Ethereum

Foundation

TRON

The possibility of an Ethereum spot exchange-traded fund (ETF) obtaining approval in May is in doubt as the cryptocurrency industry and regulatory authorities continue to discuss it. 
Tron Foundation CEO Justin Sun expressed concern with the pending decision. He said regulators need continuous education to help them understand the basics of the cryptocurrency industry. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 My honest opinion (NFA) is that an Ethereum ETF won't be approved in May. The crypto industry still needs to prepare for a long-term education with regulators, focusing on helping them understand crypto. But we've always been here, haven't we?— H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1784609758076703224?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 28, 2024</a>
 </blockquote> 
 </div>
</figure> 
The U.S. Securities and Exchange Commission <a href="https://www.cryptotimes.io/2024/04/25/sec-likely-to-reject-ether-etfs-next-month-sources-report/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">(SEC) is anticipated to reject</a> several pending applications for spot Ethereum ETFs. This view matches Sun’s careful approach to the issue, as he faces legal troubles with the SEC, which has accused him of fraud and market manipulation. 
Despite the overarching uncertainty, some industry stakeholders remain hopeful. BlackRock’s involvement, a firm with a robust track record in ETF approvals, suggests the possibility of positive outcomes.&nbsp; 
Additionally, Grayscale’s Chief Legal Officer, Craig Salm, <a href="https://x.com/CraigSalm/status/1772360837094691302" target="_blank" rel="noreferrer noopener" data-wpel-link="external">indicated</a> that the SEC’s previous interactions with spot Bitcoin ETF issuers might set a precedent that could influence the Ethereum ETF discussions. 
As the deadline approaches, the industry watches closely, awaiting the SEC’s decision that could significantly impact the landscape of cryptocurrency investments. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/27/deaton-backs-coinbase-in-sec-appeal-amid-senate-bid/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Deaton Backs Coinbase in SEC Appeal Amid Senate Bid</a> 
</blockquote>

Justin Sun Doubts May Approval for Ethereum ETF

The Crypto Times

Other articles published on Apr 29, 2024

How to Earn in a Sideways Market with TYMIO?

Most Trending Cryptocurrency on Base Chain Now – Based Bunny, Snort, Riky

Analisis Kripto Utama Awal Pekan: BlockDAG hingga Solana

Crypto: XRP plunges below $0.50 amid heated debate over ETHgate

Bitcoin collapse to continue? Veteran trader Brandt says this

Music Producer, Crypto Creator Illmind Joins Benzinga's Future of Digital Assets Event

Join our free newsletter for daily crypto updates!