Ethereum

Spot

Investment companies eager to introduce the first ETFs based on Ethereum face potential disappointment. The U.S. Securities and Exchange Commission (SEC) has not yet indicated it is ready to approve such products.
After months of silence, the US regulator is expected to announce its decision next week on at least one application for an ETF that invests directly in Ethereum, the world's second-largest cryptocurrency. Some fund companies are expecting a rejection, citing less robust private dialogues with the SEC than before the approval of spot-Bitcoin ETFs in January.
In the weeks leading up to the approval of Bitcoin ETFs, fund companies submitted multiple versions of revised paperwork to address the SEC's concerns, a process that significantly contributed to their final approval. However, spot ETH ETF filings have seen much less activity.
“Most people generally expect a rejection,” said Katherine Dowling, general counsel at Bitwise, which filed for a spot ETH ETF in March. and added: “You're not seeing the kind of public activity that you would see if there were to be an approval.”
Related News: <a href="https://en.bitcoinsistemi.com/huge-altcoin-project-everyones-been-waiting-for-finally-clarifies-when-airdrop-will-be-distributed/" target="_blank" rel="noopener noreferrer nofollow">Huge Altcoin Project Everyone's Been Waiting For Finally Clarifies When Airdrop Will Be Distributed</a>
The SEC, which postponed decisions on fund applications for several months, has until May 23 to approve or reject VanEck's application. ETH's value fell nearly 20% in April as approval hopes faded.
“If the SEC doesn't approve ETH ETFs now, it may be because the line the SEC has drawn is that they won't approve any spot crypto product without an actual court order,” said Jeremy Senderowicz, an attorney specializing in investment services at law firm Vedder Price.
Whatever the outcome, for the first time the SEC will provide significant public information about its position on spot Ether ETFs. Even among issuers who are pessimistic about the regulator approving the product, this is seen as a ray of hope as it will give a concrete idea about the regulator's thoughts on these products.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/one-week-to-go-until-the-big-day-analysts-update-expectations-for-ethereum-spot-etf-decision/" rel="noopener noreferrer nofollow">One Week to Go Until the Big Day: Analysts Update Expectations for Ethereum Spot ETF Decision</a>

One Week to Go Until the Big Day: Analysts Update Expectations for Ethereum Spot ETF Decision

Bitcoin Sistemi EN

Other articles published on May 17, 2024

Turkey Announces Proposed Law to Regulate Cryptocurrencies

Indian securities regulator proposes multi-agency approach to regulate crypto

Russia Poised to Lead Global Cryptocurrency Mining

Chainlink Surges 14% As It Completes Pilot to Accelerate Fund Tokenization

Best Meme Coins To Invest In Today Friday, May 17 – YooShi, VPMX, Smog, SafemoonTon

Long Term HODLs For Investors Who Are In For The Long-Game

Join our free newsletter for daily crypto updates!