James Seyffart, one of the names whose comments on Bitcoin spot ETFs have been carefully followed, stated that the SEC also accepts Ether as a commodity.The analyst, who stated that the institution did not explicitly state this, said that it is also highly likely that an Ether spot ETF will be approved this year.
While the US Securities and Exchange Commission's (SEC) decision on spot Bitcoin ETFs is eagerly awaited, a new comment has come from Bloomberg analyst James Seyffart. Seyffart said at an event he attended that the SEC may also accept a spot Ether ETF this year.
“They also accept it as a commodity, but they can't tell”
Speaking at a special event of the on-chain data platform CryptoQuant, the analyst stated that by accepting the SEC's Ether futures ETFs, he actually thinks that ETH is a commodity:
“The SEC has already recognized that Ether is a commodity, even if it is not explicitly... they did this by approving Ether futures ETF requests. Of course, Gary Gensler can't talk openly about this. When asked, he will not be able to say anything about it being an investment contract or a commodity. But what they do shows that they think it's a commodity.”
"The Ether spot ETF will also be approved this year”
The analyst, who also stated that there is a struggle between the SEC and the CFTC regarding the regulation of such assets, used the following statements Dec:
“If the SEC accepts Ether as an investment contract and not a commodity, it would open a war not only on the crypto world, but also on the CFTC. For this reason, I think an Ether spot ETF will also be approved this year.”
The SEC needs to make a final decision on the spot Ether applications of VanEck and Hashdex companies in partnership with ARK-21Shares by May 2024. Decisions regarding other companies were made on the calendar for the following months.
Seyffart also stated that he thinks that a spot Bitcoin ETF that will be accepted on or before January 10 will bring at least $ 1 billion to these products within 10 years.
