Industry Insiders have revealed that they are not hopeful about having a spot Ethereum exchange-traded fund (ETF) released in May.
Commenting on this issue, Nate Geraci, who is the head of the ETF Store, pointed out in a tweet that the US Securities and Exchange Commission (SEC) had been very quiet concerning this matter; which was contrary to what occurred during Bitcoin ETFs’ authorization.
Additionally, Eric Balchunas, a Bloomberg’s senior ETF expert, directly stated that such “silence is harmful” as shown in SEC’s lack of feedback regarding Ethereum ETFs indicating disapproval chances are minimal this time. Nonetheless, the SEC might decline and provoke another legal clash especially if Grayscale takes charge after its Bitcoin ETF court victory.
Geraci argues that despite skepticism over Ethereum ETF’s importance due to unenthusiastic response to futures-based offerings, its $379 billion market value makes it big deal for issuers to go for.
However, while the crypto community eagerly anticipates SEC stands may be, those expecting approval of Ethereum ETF may find silence deafening among them.
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