The SEC is expected to make a decision on Ethereum ETFs in May after approval delays and skepticism. Despite these issues, Grayscale Investments and BlackRock have updated their Ethereum ETF filings.
Grayscale recently took a major step forward by filing an S-3 with the SEC on April 23. The company intends to convert the current #Grayscale #BNB Trust into a spot #ETF .
This comes after NYSE Arca filed earlier; Grayscale also plans to create a smaller version of its Ethereum ETF as well as a mini #BNB ETF, but the SEC has yet to approve these smaller ETFs.
BlackRock is also active and has amended its application to include a cash-to-stock ETF, as have other ethereum ETFs and several approved bitcoin ETFs.
Expectations for approval are low, with Bloomberg analyst Eric Bartunas downgrading the probability of success from 70% to 25%.
Betting market Polymarket is even more pessimistic, giving only an 11% chance of approval by the end of May.
The SEC has deferred a decision on several Ethereum ETF applications and will review them in May.
The outlook is not bright, and market watchers advise tempering expectations for these ETFs, which could be a revolutionary investment vehicle.
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