Morgan Creek CEO did not see prospects for the imminent approval of spot Ethereum-ETFs
The SEC is unlikely to approve spot Ethereum ETFs in the near future, despite optimism following the approval of similar Bitcoin products in the US. Morgan Creek Capital CEO Mark Yusko said this in an interview with Cointelegraph.
Earlier, Bloomberg stock analyst Eric Balchunas said that with a 70% probability he expects approval of a number of applications for Ethereum funds in May.
However, Yusko did not agree with this assessment:
"I'd say it's less than 50/50."
In his opinion, the SEC is still quite hostile to cryptocurrencies. This was confirmed by the head of the department, Gary Gensler, in his speeches against the backdrop of the approval of Bitcoin funds, says co-founder of Morgan Creek.
Another obstacle Yusko sees is that the Commission may still consider Ethereum as a security. The department clearly classifies Bitcoin as a commodity.
The head of BlackRock, one of the potential issuers of a spot exchange-traded fund based on ether, Larry Fink, spoke about the âvalueâ of such products from a tokenization point of view. However, he expressed doubt that digital assets will ever become currencies.
