Ethereum

Cryptocurrency

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-to-announce-ethereum-etf-decisions" rel="noopener noreferrer nofollow">SEC to Announce Ethereum ETF Decisions</a><br></p>
<p style="text-align: justify">Cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a> have been eagerly awaiting the SEC’s decision on spot Ethereum ETF applications, and the pivotal moment has finally arrived. This decision holds significant implications for the SEC’s crypto stance and could greatly influence mid-term ETH price predictions.</p>
<h2 id="key-dates-for-spot-eth-etf-decisions">Key Dates for Spot ETH ETF Decisions</h2>
<p style="text-align: justify">Decisions regarding VanEck and Ark&amp;21Shares applications are scheduled for May 23 and 24. The SEC’s final verdict on Grayscale’s application will be disclosed on May 30. Following its approach with <a href="https://en.bitcoinhaber.net/bitcoins-price-stability-questioned" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs, the SEC will announce the approval or rejection of all Ether ETFs simultaneously. Applications from industry giants like BlackRock and Fidelity also await decisions on May 23 and 24.</p>
<h2 id="what-will-the-sec-decide">What Will the SEC Decide?</h2>
<p style="text-align: justify">Only 14% of investors believe the SEC will greenlight ETH ETFs. The regulatory body, which has been scrutinizing ConsenSys, Uniswap, the Ethereum Foundation, and others, has hinted at a rejection for months. Gensler’s remarks suggest Ethereum’s transition to Proof of Stake (PoS) classifies it as a security.</p>
<p style="text-align: justify">During congressional testimonies, Gensler has refrained from categorizing Ethereum definitively as a commodity or security, indicating a potential legal showdown. The SEC’s ongoing actions against prominent Ethereum entities hint that a decision on Ethereum’s security status was predetermined.</p>
<p style="text-align: justify">Contrarily, the CFTC maintains that Ether is a commodity, not a security, leading to internal criticism within the SEC. Commissioners Peirce and Uyeda have openly criticized the SEC’s stance, accusing it of attempting to stifle the crypto industry, a sentiment Gensler has overlooked.</p>
<h2 id="investor-insights-and-implications">Investor Insights and Implications</h2>
<p style="text-align: justify">– Investors should monitor the SEC’s official announcements on Wednesday and Thursday.<br> – Potential rejection of ETH ETFs could result in significant price volatility for ETH.<br> – Reasons provided by the SEC for any rejections could impact overall market sentiment.<br> – Simultaneous rejections from major players like BlackRock could amplify market reactions.</p>
<p style="text-align: justify">This Thursday and Friday, ETH prices might experience volatility as the SEC is expected to announce decisions for at least two ETFs. Although the markets have generally anticipated a rejection, an unexpected drop could still occur, influenced by the SEC’s rationale and the status of applications from larger firms like BlackRock.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-to-announce-ethereum-etf-decisions" rel="noopener noreferrer nofollow">SEC to Announce Ethereum ETF Decisions</a></h5>

SEC to Announce Ethereum ETF Decisions

Table of Contents

BH NEWS

Other articles published on May 19, 2024

EigenLayer In Spotlight Again On Controversial Advisor Allocation

Why Crypto Market Is About to Explode with Altcoin Gains: Insightful Analysis from Leading Crypto...

No Limit Coins: Dive Into The World Of Free-to-Play Social Slots

New Cryptocurrency Releases, Listings, & Presales Today – ZedDex, Digitaliga, Houdini Swap

Token Watchlist for This Week; Fantom (FTM), PYTH, Ethena (ENA) And AI Cryptos

5 Most Expensive Crypto To Buy This Month

Join our free newsletter for daily crypto updates!