Ethereum Comment from Bloomberg Analyst: SEC Cleared the Question Mark!

According to Bloomberg Intelligence ETF analyst, the US Securities and Exchange Commission (SEC) answered a curious question about Ethereum.

The Securities and Exchange Commission (SEC) has instructed entities that have applied for spot Ethereum ETFs to update their applications.

The SEC will make a decision on May 23 on VanEck's 19b-4 filings for the ETF. According to Bloomberg analysts, the probability of approval of ETFs increased from 25% to 75% with a constructive dialogue between the parties.

After the SEC's call, Fidelity Investments took the first step. The company updated its application for the Fidelity Ethereum Trust ETF today, removing the statement that ETH coins held in the fund can be used for staking purposes and emphasizing that the staking mechanism will not be used.

Bloomberg analyst Eric Balchunas said, “It looks like we have the final answer on whether the SEC will allow staking: No.” said.

It was known that the SEC had concerns about staking. The institution filed a lawsuit against Coinbase in June 2023, on the grounds that it offered staking services on its platform and that this violated securities laws.