Ethereum

Spot

<p>A prominent crypto analyst and former Wall Street high-yield bond trader is making a bold prediction that all <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> spot ETFs will gain SEC approval on May 23rd. The analyst, <a href="https://twitter.com/VivekVentures/status/1789161581110051239" target="_blank" rel="noopener noreferrer nofollow">@VivekVentures on X</a>, cites five key reasons backing up this claim.</p>
<p><strong>First</strong>, the analyst points to ETF issuers ARK and 21Shares amending their filings to remove Ethereum staking from their spot ETF products. Removing this revenue stream suggests guidance from regulators indicating a pathway to approval.</p>
<p><strong>Secondly,</strong> Grayscale’s withdrawal of its ETH futures ETF application is cited as a signal that approval of a spot ETH product is imminent. The rationale is that the heavyweight crypto firm would not forfeit a “winnable fight” unless it anticipated green-lighting of a spot ETH ETF soon.</p>
<p><strong>The third factor</strong> is the SEC’s prior approval of ETH futures ETFs post-Merge. This implied regulatory acceptance of proof-of-stake Ethereum as a commodity under CFTC jurisdiction, akin to Bitcoin.</p>
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<p><strong>Fourth</strong> is SEC Chair Gensler’s own past statements labeling Ethereum as a non-security commodity. While Gensler has been vague on ETH’s status lately, the analyst argues the ETF decisions will force clarification.</p>
<p><strong>Finally,</strong> the courts have ruled against the SEC’s “arbitrary and capricious” overreach. With the legal precedent set by Bitcoin ETF approvals, denying a spot Ethereum product could mean another humiliating legal defeat for the agency.</p>
<p><a href="https://captainaltcoin.com/expert-predicts-cardanos-ada-price-to-surge-15x-heres-their-outlook/" target="_blank" rel="noopener noreferrer nofollow"><em><strong>Read Also: Expert Predicts Cardano’s ADA Price to Surge 15x: Here’s Their Outlook</strong></em></a></p>
<p>While acknowledging continued regulatory attacks on crypto until political changes occur, @VivekVentures concludes Ethereum ETF approval is inevitable to avoid further reputational damage to the SEC. May 23rd is posited as the date this “non-consensus” trade could pave the way for wider institutional adoption of Ethereum and “a Renaissance of real crypto innovation.”</p>
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<p>The post <a href="https://captainaltcoin.com/5-reasons-ethereum-eth-spot-etf-will-be-approved-this-month/" rel="noopener noreferrer nofollow">5 Reasons Ethereum (ETH) Spot ETF Will be Approved This Month</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

5 Reasons Ethereum (ETH) Spot ETF Will be Approved This Month

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