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SEC Stalls Ethereum ETFs from Hashdex and ARK 21Shares 🚀🔒

SEC Stalls Ethereum ETFs from Hashdex and ARK 21Shares 🚀🔒

SEC Extends Decision Date for Ethereum ETFs

The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on the approval of spot Ethereum exchange-traded funds (ETFs) applications submitted by Hashdex and ARK 21Shares. The regulatory body is taking additional time to evaluate the potential impact and regulatory concerns associated with these proposed ETFs. The SEC has designated May 30, 2024, as the new decision date.

Bloomberg Analysts Not Optimistic about ETH ETF Approval

Bloomberg Intelligence ETF analysts James Seyffart and Eric Balchunas have expressed their predictions for the pending approvals, indicating a potential denial in May. Balchunas stated that the odds of Ethereum ETF approval by the May deadline are down to 35%. He noted that while there are reasons to approve it, the signs and sources that were bullish for Bitcoin spot ETFs are not present this time.

Seyffart echoed this sentiment, stating that his cautiously optimistic attitude for Ethereum ETFs has changed. He now believes that they will be denied in this round. The analysts also highlighted the SEC’s lack of engagement with Ethereum ETF applicants, which is in contrast to its approach with previously approved Bitcoin spot ETFs.

Possibility of More Delays

Seyffart further shared on social media that the SEC might delay its decision on other Ethereum ETF applications as well. He mentioned that at least three more delays are expected for VanEck, Ark/21Shares, Hashdex, and Grayscale within the next 12 days.

Hot Take: SEC Delays Decision on Ethereum ETFs

The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on the approval of spot Ethereum exchange-traded funds (ETFs) applications submitted by Hashdex and ARK 21Shares. The regulatory body is taking additional time to evaluate the potential impact and regulatory concerns associated with these proposed ETFs. The SEC has designated May 30, 2024, as the new decision date.

Bloomberg Intelligence ETF analysts James Seyffart and Eric Balchunas have expressed their predictions for the pending approvals, indicating a potential denial in May. Balchunas stated that the odds of Ethereum ETF approval by the May deadline are down to 35%. He noted that while there are reasons to approve it, the signs and sources that were bullish for Bitcoin spot ETFs are not present this time.

Seyffart echoed this sentiment, stating that his cautiously optimistic attitude for Ethereum ETFs has changed. He now believes that they will be denied in this round. The analysts also highlighted the SEC’s lack of engagement with Ethereum ETF applicants, which is in contrast to its approach with previously approved Bitcoin spot ETFs.

Seyffart further shared on social media that the SEC might delay its decision on other Ethereum ETF applications as well. He mentioned that at least three more delays are expected for VanEck, Ark/21Shares, Hashdex, and Grayscale within the next 12 days.

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SEC Stalls Ethereum ETFs from Hashdex and ARK 21Shares 🚀🔒