LIVEWhat will happen to the price of ETH if the SEC rejects all spot Ethereum ETF applications?
After a decade of waiting, denials, and delays, the U.S. Securities and Exchange Commission finally gave the green light to nearly a dozen spot Bitcoin ETFs in early 2024.
Their impact on BTC prices is undeniable as demand for such products among traditional investors has skyrocketed. Now that there are exchange-traded funds tracking the performance of at least one cryptocurrency, the community speculates whether there will be a follow-up fund, especially with ETH.
ETH ETF applications
Many companies inside and outside the crypto industry want to follow Bitcoin's example and have products that track the performance of the second largest digital asset. Perhaps the two biggest names currently filing with the SEC are BlackRock and Fidelity. However, the regulator continues to delay making a decision on one of its two applications.
Amid the SEC's latest delays, industry experts are starting to question the agency's motives and draw comparisons to how the watchdog operates before rejecting countless applications. BTC during the past 10 years. As a result, the general optimism surrounding ETH ETF registrations began to fade in recent weeks despite previous predictions that the Commission would approve all applications by May 2024.
The most recent analysis on the matter shows that the SEC plans to reject all spot Ethereum ETF applications with a May expiration date.
