๐๐๐ Spot #EthereumETF : Applicants Meet SEC But Rejection Fear Remain
Nate Geraci, president of The ETF Store, recently disclosed that several applicants for spot Ethereum ETFs have engaged in discussions with the United States Securities and Exchange Commission (SEC) regarding the intricacies of their proposed offerings.
Amidst the discussions, there is a prevailing uncertainty surrounding the looming deadline for spot Ethereum ETF approval. According to Geraci, conversations between the spot Ethereum ETF applicants and the SEC have predominantly been one-sided, with the agency failing to provide the crucial feedback necessary for finalizing the products. Consequently, there are apprehensions that meeting the May 23 deadline for Ethereum ETF approval may not be feasible.
Rather than offering feedback on the numerous filings from entities such as BlackRock, Grayscale, and Bitwise, the SEC has opted to solicit comments on the proposed rule change. As part of this process, the agency has initiated a public comment period for some of the proposed spot Ethereum ETFs, with the deadline for comments still open.
Bloomberg ETF analyst Eric Balchunas weighed in on the matter, asserting that the SEC's actions have not significantly influenced the likelihood of spot Ethereum approval. Balchunas emphasized the importance of the Commission providing critical feedback to the eager applicants awaiting its decision.
Polymarket odds show divided sentiment on #SECApproval for spot Ethereum ETF, with a 45% chance. Balchunas has revised his approval estimate from 70% to 30%, reflecting increased skepticism.
Bloomberg ETF analyst James Seyffart is skeptical about the SEC's lack of response to Fidelity's filing, raising concerns about its impact. Investors worry about Ethereum's classification as a security. However, BlackRock CEO Larry Fink remains hopeful about spot Ethereum ETF approval, despite regulatory scrutiny
Source - coingape.com
