Ethereum

United

TRON

Spot

<p>Spot Ethereum ETFs are creating a buzz in the cryptosphere circles. With only a few days away from the crucial date, crypto experts express doubts about their emergence in May. TRON blockchain head Justin Sun concurs.</p>
<h2 id="h-ethereum-etfs-justin-sun-more-skeptical-than-ever">Ethereum ETFs: Justin Sun More Skeptical Than Ever</h2>
<p>The United States Securities and Exchange Commission <strong>continues to drag its feet</strong> on Ethereum ETF applications, as it did with the Bitcoin Spot ETFs. Under the guise of protecting crypto investors, <strong><a href="https://www.cointribune.com/en/crypto-sec-delays-decision-on-ethereum-spot-etfs/" target="_blank" rel="noopener noreferrer nofollow">delays are piling up</a></strong>. Skeptics are plentiful.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This is the case for Justin Sun, who doesn’t place a big bet on their imminent approval, if we refer to this article from <a href="https://crypto.news/ethereum-spot-etf-approval-in-may-justin-sun-weighs-in/" target="_blank" rel="noopener noreferrer nofollow">Crypto News</a>.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">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?</p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1784609758076703224?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 28, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<p>This is not a shot in the dark, but rather <strong>a trend that is gaining momentum</strong>. Sun thus joins the cohort of skeptical crypto analysts, all convinced that <strong>the SEC will slam the door on spot ETH ETF applications</strong>.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/ETHUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">ETHUSD chart</span></a> by TradingView
 </div>
</div> 
<p>In his latest article dated April 28th, Sun stated that the cryptocurrency industry must brace itself <strong>for a long educational campaign with regulators</strong>. An assertion tinged with a hint of irony, reminding us of the omnipresence of cryptos despite institutional reluctance.</p>
<h2 id="h-rollercoaster-predictions">Rollercoaster Predictions</h2>
<p>According to a scorching report from Reuters, <strong>hopes of seeing the SEC roll out the red carpet for Ethereum ETFs in May <a href="https://www.cointribune.com/en/ethereum-etf-discord-at-the-sec/" target="_blank" rel="noopener noreferrer nofollow">are dwindling</a></strong>. Recent weeks’ meetings between financial bigwigs and the market watchdog have been inconclusive.</p>
<p>Blackrock, VanEck, ARK Investment Management, and many others have knocked on the door of the SEC for their Ethereum ETFs. But <strong>the verdict</strong>, due for VanEck and ARK on <strong>May 23 and 24</strong> respectively, is expected to be anything but unanimous.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://join.swissborg.com/r/frederEZU5" target="_blank" rel="noopener noreferrer nofollow">Buy your first cryptocurrencies with Swissborg</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>Compared to the Bitcoin ETFs, which received the green light in January, the approval prospects seem <a href="https://www.cointribune.com/en/ethereum-etf-a-dream-falling-apart/" target="_blank" rel="noopener noreferrer nofollow">more nebulous</a>. Eric Balchunas, an ETF analyst at Bloomberg, estimates only a 35% chance of a thumbs-up in May.</p>
<h2 id="h-justin-sun-a-dossier-under-the-sec-s-scrutiny">Justin Sun: A Dossier Under the SEC’s Scrutiny</h2>
<p>Meanwhile, Justin Sun, the face of Tron (TRX), is <strong>navigating troubled waters with the Securities and Exchange Commission</strong>. Accused of <strong>fraud</strong> and <strong>market manipulation</strong>, Sun is up against a legal arm-wrestling match.</p>
<p>The SEC accuses Sun and his crypto companies of selling <strong>unregistered securities</strong>, including Tronix (TRX) and BitTorrent (BTT). In this flurry of accusations, the SEC highlights Sun’s multiple trips to the United States on behalf of the Tron Foundation, BitTorrent, and Rainberry.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://go.primexbt.com/click?pid=8658&amp;offer_id=12&amp;l=1594368336" target="_blank" rel="noopener noreferrer nofollow">Start trading Bitcoin with PRIME XBT</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>Yet, Sun hasn’t lost sight of his assets. With nearly $1 billion in assets, including the stablecoin USDD valued at $280 million, his fortune remains a stake in this multi-front battle.</p>

Ethereum ETF: SEC weighs the pros and cons

Table of Contents

Cointribune EN

Other articles published on May 1, 2024

Scott Melker Sees ETH Reaching $8K; KANG Selling Out Quick As ADA Price Dips

XRP Lawyer John Deaton Slams SEC’s Gary Gensler For ‘Infecting’ Entire Agency

Cryptocurrency Internet Computer's Price Increased More Than 3% Within 24 hours

Litecoin, Cardano, Ripple all Deemed “Zombie Blockchains” By Forbes: Are They Dead Or Hibernating?

Ethereum Faces Key Resistance Levels

Securitize Ties-up With BlackRock As It Launches Its First Tokenized Fund On Ethereum!

Join our free newsletter for daily crypto updates!