Ethereum

Hedge

<div class="insidebitcoins">
 Grayscale expects an Ethereum ETF (exchange-traded fund) to be approved by the Securities and Exchange Commission (SEC) in May, despite the regulator’s lack of engagement with applicants. 
 That’s because many of the tricky issues around crypto ETF issuance were settled between the SEC and fund managers for the launch of Bitcoin ETFs in January, said Grayscale’s chief legal officer, Craig Salm, in a Mar. 25 post on X. 
 “In the final months leading up to Bitcoin ETF approval,&nbsp;Grayscale <span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);">and others received positive and constructive engagement from the SEC,” he said. ”All of these issues were figured out and are identical when comparing spot Bitcoin to Ethereum ETFs. The only difference is rather than the ETF holding bitcoin, it holds ether. So in many ways, the SEC already has engaged and issuers simply have less to engage on this time.” 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 1/ Recently, there’s been a lot of chatter about spot #Ethereum ETFs. I personally am not deterred by it and believe the ETFs should be approved. But right now I want to talk about how I think perceived “lack of SEC engagement” should be viewed at this point: 
 — Craig Salm (@CraigSalm) March 25, 2024
 </blockquote> 
 
 <h2 id="bloomberg-pessimistic-over-ethereum-etf-approval-in-may">Bloomberg Pessimistic Over Ethereum ETF Approval In May</h2> 
 Bloomberg ETF analyst Eric Balchunas last week slashed the odds of Ether ETFs gaining approval in May to a meager 25%, from 35% on Mar. 11, citing the lack of a SEC engagement with fund managers as a key issue. 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Re Eth ETF approval, we are holding the line at 25% odds altho tbh it is a very pessimistic 25%. The lack of engagement seems to be purposeful vs procrastination. No positive signs/intel anywhere you look. Personally hope they do approve it but it just ain't looking good. https://t.co/nuBdCDE18L 
 — Eric Balchunas (@EricBalchunas) March 25, 2024
 </blockquote> 
 
 That downgrade came amid reports that the SEC has launched an investigation into the Ethereum Foundation to establish whether Ether is a security. 
 Spot Ether ETF filings have also introduced one feature that is different from Bitcoin ETFs. That is staking, which applicants including Franklin Templeton, Ark 21 Shares, and Fidelity have included in their filings. 
 “Perhaps I will feel differently as we get closer to final approve/deny dates in late May 2024,,” said Salm. “But at this point, I don’t think perceived lack of engagement from regulators should be indicative of one outcome or another.” 
 He added that investors want and deserve access to Ethereum via a spot Ethereum ETF and that he believes the case is just as strong as it was for spot Bitcoin ETFs. 
 <h3 id="also-read">Also Read:</h3> 
 <ul> 
 <li>Bitcoin Price Prediction: BTC Surges 4% To Pass $70K As This Bitcoin Cloud Mining ICO Races Towards $13M</li> 
 <li>Bitcoin ETF Interest May Surge Amid Price Declines</li> 
 <li>Goldman Sachs Says Hedge Fund Clients Flock to Crypto After Bitcoin ETF Approval </li> 
 </ul> 
 Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/grayscale-sees-ethereum-etf-approval-in-may-despite-lack-of-sec-engagement-tbt83576.html">https://thebittimes.com/grayscale-sees-ethereum-etf-approval-in-may-despite-lack-of-sec-engagement-tbt83576.html</a>
</div>

Grayscale Sees Ethereum ETF Approval In May, Despite Lack of SEC Engagement

Table of Contents

TheBitTimes

Other articles published on Mar 26, 2024

London Stock Exchange to Accept Applications for Bitcoin ETN Listing

Can Avalanche (AVAX) Price Hit a 2-Year High and Reach $70?

DeeStream (DST) Presale Becomes a Magnet for Investors, Promising Big Returns as Dogwifhat (WIF) ...

Meme Rivals Dogecoin (DOGE) & Shiba Budz (BUDZ): Dogecoin Price Predictions

Coinbase To Store Users’ USDC Balances On Base Network

Dogecoin Soars with New GigaWallet Initiative and Market Rally

Join our free newsletter for daily crypto updates!