Expert Predictions of Possible Ether ETF Approval
May is being looked at by expert analysts as a potential month for the approval of a spot Ether ETF. Bloomberg Intelligence analyst James Seyffart has estimated a 60% chance of the approval of spot Ether ETFs in May.
SEC’s Delayed Decisions and Attention on May
The Securities and Exchange Commission-SEC recently delayed decisions on a number of proposed ether ETFs, leading to May being the next significant milestone for potential spot ether ETF approvals.
Possibility of Approvals in May
Seyffart mentions a 60% chance of spot Ethereum ETFs being approved, with a critical date identified as May 23 marking the 240-day window for the SEC to decide on proposals from Ark/21Shares and VanEck.
Firms Seeking Approval
Several prominent firms such as BlackRock, Grayscale, Ark 21Shares, and VanEck are looking for approval to launch spot ether ETFs.
Grayscale’s Strategy
Grayscale, a digital asset investment firm, is pursuing a similar strategy for its ETH ETF and is targeting a decision from the SEC in the summer of 2024, according to Chief Legal Officer Craig Salm.
Importance of Caution and the Regulatory Landscape
Industry experts emphasize the importance of caution in predicting spot ether ETF approval. Scott Johnson, a finance lawyer, highlights a series of threads on the journey and the regulatory landscape in regard to these ETFs, stating that various factors will influence the final decision.
Caution and Future Developments
Experts are hopeful about the prospects for the spot Ether ETF approvals, but the final decision rests with the SEC. The month of May holds significant implications for the future of spot ether ETFs, and stakeholders are waiting for further developments and news from the regulatory bodies.
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