A New Outlook on the Potential Approval of an Ethereum Exchange-Traded Fund (ETF)
As the deadline looms for the decision on an Ethereum Spot ETF, crypto expert Michaël van de Poppe shares his perspective on the likelihood of approval. He believes that the odds are not in favor of an approval in May for three prominent contenders vying for the spot.
May Doesn’t Look Promising
Van de Poppe recently took to Twitter to express his skepticism about the approval of an Ethereum ETF this month. He specifically mentioned leading contenders such as VanEck, Ark 21 Shares, and Hashdex Nasdaq, indicating that an approval is unlikely to happen in May.
In a tweet, he highlighted the undervaluing of a potential approval, suggesting that August might be a more feasible timeline for approval.
The Unlikelihood of Approval in May
- Van de Poppe sees slim chances of an Ethereum ETF getting approval in May
- He mentioned prominent contenders like VanEck, Ark 21 Shares, and Hashdex Nasdaq
- August might present a more favorable opportunity for approval
The crypto expert also speculated that the Securities and Exchange Commission (SEC) is unlikely to categorize ETH ETFs as securities, potentially avoiding legal conflicts. Instead, he anticipates that the approval process might be delayed for various reasons beyond the month of May.
Anticipation for August
While van de Poppe maintains a pessimistic view on the approval in May, he is not alone in his outlook.
MicroStrategy CEO Michael Saylor shares similar doubts about the approval of an Ethereum ETF. In fact, Saylor goes as far as predicting that it may never receive approval.
Saylor’s Harsh Forecast
Saylor’s prediction includes the classification of Ethereum as a security by the SEC during the summer, resulting in rejections for spot ETF applications, even from major players like BlackRock.
During the MicroStrategy World 2024 conference, Saylor publicly voiced these predictions and also warned about potential hurdles for other cryptocurrencies like BNB, Solana (SOL), XRP, and Cardano (ADA).
What Lies Ahead for Ethereum?
- Saylor believes Ethereum could be classified as a security by the SEC
- This classification could lead to rejections for spot ETF applications
- Other cryptocurrencies like BNB, Solana, XRP, and Cardano could face similar challenges
Whether an ETF approval is on the horizon or not, the question remains: Is Ethereum set to emerge as a long-term success in the crypto landscape? It’s up to you to share your thoughts on the matter.
With diverse opinions circulating within the crypto community, the future of Ethereum and its potential ETF approval remains uncertain. Stay tuned for further updates and developments in this evolving space.
Hot Take: Your Turn to Weigh In
As the debate around the approval of an Ethereum Exchange-Traded Fund continues, it’s essential to consider the various perspectives shared by experts in the field. Your insights and opinions on the fate of Ethereum and its potential ETF approval hold significance in shaping the future of the cryptocurrency market. What do you believe lies ahead for Ethereum, and how do you think the outcome of an ETF approval could impact its long-term trajectory?
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