TD Cowen: Market Shouldn't Expect Ether ETF Approval Soon
Amid growing market speculation in anticipation of the imminent launch of a spot Ethereum ETF, financial analysts at investment bank TD Cowen said their information suggests it is unlikely that the SEC will begin reviewing applications for approval of the investment vehicle in the first half of 2024.
“The tentative approval deadline for Ether spot ETF applications is May. However, we expect that the regulator will not approve new ETPs for ether and other cryptocurrencies in the near future. We believe that the SEC will want to gain hands-on experience with similar Bitcoin investment vehicles before approving an Ethereum ETP,” commented Jaret Seiberg, head of TD Cowen Washington Research Group.
TD Cowen believes that the SEC will return to the issue of discussing ETFs for airwaves after the US presidential elections, which will take place in November 2024.
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