Ethereum

Franklin

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The U.S. Securities and Exchange Commission has postponed its decision on a spot Ethereum exchange-traded fund (ETF) proposal submitted by New York-based investment firm Franklin Templeton.&nbsp;
Franklin Templeton filed its spot Ethereum ETF application back in February, joining other players of the likes of BlackRock.&nbsp;
In its most recent&nbsp;<a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-100015.pdf">filing</a>, the SEC said that it finds it appropriate to delay its decision so that it will have enough time to consider Franklin Templeton's application.&nbsp;
Despite the fact that the SEC greenlit a slew of spot Bitcoin ETF applications in January, the odds of the regulator approving spot Ethereum ETFs remain infinitesimally low.&nbsp;
As&nbsp;<a href="https://u.today/ethereum-etf-not-happening-in-may-top-analyst-claims">reported by U.Today</a>, Nate Geraci, one of the top ETF analysts, recently cited the lack of engagement from the SEC as the key reason why approval is unlikely.&nbsp;
The SEC is facing political pressure not to approve ETFs for alternative cryptocurrencies. Moreover, the regulator reportedly wants to classify the largest altcoin as a security, which could complicate the approval process.&nbsp;
British multinational bank Standard Chartered, which previously predicted that the Ethereum price could reach $4,000 following the approval of Ethereum ETFs, now claims that such investment products are unlikely to be greenlit this May.&nbsp;
With that being said, Standard Chartered sticks to its ambitious prediction as it expects the price of Ether to hit a staggering $8,000 by the end of the year.&nbsp;
The largest altcoin is currently trading at $3,235, according to CoinGecko&nbsp;<a href="https://www.coingecko.com/">data</a>. It is up 1% over the last 24 hours.&nbsp;

SEC Delays Decision on Another Spot Ethereum ETF

U_Today

Alte articole publicate pe 23 apr. 2024

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