Jockeying for Position: VanEck Calls for Fair Play in Spot Ethereum ETF Approval Process
In a bid to secure the debut of spot Ethereum exchange-traded funds (ETFs) in the United States, Matthew Sigel, VanEck’s head of crypto research, has called upon the Securities and Exchange Commission (SEC) to uphold a first-come, first-serve order basis. VanEck, a prominent fund group managing around $100 billion in assets, initially submitted a filing for a spot Ethereum ETF in 2021.
VanEck Requests SEC to Uphold First-Come, First-Serve Order Basis
- Sigel raises concerns about the SEC allowing multiple firms to launch their financial products simultaneously, irrespective of the filing time.
- He emphasizes the importance of honoring the order of filings for fairness and market integrity.
- This issue gains significance as the SEC concludes its review period for VanEck’s latest Ethereum ETF bid.
Changing Winds: Odds of Approval Increase for Spot Ethereum ETFs
- Bloomberg ETF analysts have upgraded the chances of approval for spot Ethereum ETFs from 25% to a hopeful 75%.
- Prediction platforms like Polymarket have also shown a substantial increase in the odds of approval.
- SEC’s request for revisions to Ethereum ETF proposals from Nasdaq and Cboe is seen as a positive signal.
Hot Take: Will the SEC Pivot Towards Approval of Ethereum ETFs?
As VanEck and other firms await a decision on the launch of spot Ethereum ETFs, the industry speculates on the SEC’s stance towards these financial products. Will the regulator embrace a more accommodating approach towards Ethereum ETFs, ushering in a new era of investment opportunities for crypto enthusiasts?
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