Ethereum spot ETF applications
According to daily, the US Securities and Exchange Commission (SEC) plans to release at least one verdict on Ethereum spot ETF applications by next week. This information was provided by two reliable sources. Some fund companies are expected to be rejected since their private interactions with the SEC have been less frequent than before the Bitcoin spot ETF was approved in January of this year.
Bloomberg data shows that the ‘VanEck Ethereum ETF’ has the earliest final resolution date, on May 23. In the weeks before the SEC’s approval of the Bitcoin ETF, fund Companies submitted various versions of updated paperwork to meet the SEC’s concerns, clearing the path for these ETFs to be approved. In comparison, Ethereum spot ETFs have seen significantly less action.
Katherine Dowling, Chief Legal Advisor at Bitwise, claimed that most people expect the SEC to reject the Ethereum spot ETF. ‘If it were approved, you wouldn’t see this kind of public behaviour now,’ she explained. Bitwise submitted an Ethereum spot ETF in March of this year.