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The Ethereum (ETH) assemblage has continued to eagerly await quality connected approving a spot Ethereum Exchange-Traded Fund (ETF) slated to hap by May.
However, arsenic the US Securities and Exchange Commission (SEC) maintains a conspicuous soundlessness connected the matter, speculation has risen connected the likelihood of the approval.
This speculation is further fuelled by the scarcity of factual details regarding the support process, leaving investors and enthusiasts disquieted and anticipating.
Bitcoin Maxi Weighs In Ethereum Spot ETF Approval
In the spot Ethereum ETF debate, notable voices from the cryptocurrency abstraction person offered their perspectives.
Renowned Bitcoin maximalist and advisor to the president of El Salvador, Max Keiser, has precocious expressed skepticism regarding the SEC’s cautious attack to approving an Ethereum ETF.
Keiser, known for his staunch advocacy of Bitcoin and skepticism towards alternate cryptocurrencies, dismissed Ethereum arsenic a “proof-of-stake scam,” suggesting it lacks the regulatory backing indispensable for SEC approval.
The SEC is close not to o.k. an Ethereum (ETH) ETF
It’s a proof-of-stake scam that fails connected each requirements the SEC would look for. https://t.co/nLz8boTGtW
— Max Keiser (@maxkeiser) April 11, 2024
Keiser’s sentiment echoes that of Bloomberg’s Senior ETF Analyst, Eric Balchunas, who besides precocious shared a blimpish outlook connected the likelihood of an ETH spot ETF receiving regulatory approval.
Balchunas estimated the chances of support astatine a specified 25%, further fueling uncertainty surrounding the imaginable of an Ethereum ETF.
Re Eth ETF approval, we are holding the enactment astatine 25% likelihood altho tbh it is simply a precise pessimistic 25%. The deficiency of engagement seems to beryllium purposeful vs procrastination. No affirmative signs/intel anyplace you look. Personally anticipation they bash o.k. it but it conscionable ain’t looking good. https://t.co/nuBdCDE18L
— Eric Balchunas (@EricBalchunas) March 25, 2024
Additionally, VanEck CEO Jan Van Eck expressed anticipation of a imaginable rejection of their Ethereum ETF application, citing prolonged regulatory reviews and deficiency of clarity from the SEC.
Spot ETH ETF Gains Regulatory Interest Overseas
Amidst the uncertainty surrounding the US SEC’s stance connected Ethereum ETFs, reports suggest a contrasting regulatory situation successful Hong Kong.
According to Bloomberg, Hong Kong regulators whitethorn soon approve exchange-traded funds investing straight successful Bitcoin and Ethereum, signaling a imaginable displacement successful planetary regulatory attitudes towards cryptocurrency concern products.
If approved, these ETFs could connection investors caller avenues for vulnerability to the integer plus market. Several firms are poised to motorboat ETFs pending regulatory clearance from the Securities and Futures Commission.
Among the prospective issuers awaiting support are planetary arms of Chinese plus manager Harvest Fund Management Co. and a concern betwixt Bosera Asset Management (International) Co. and HashKey Capital.
Upon receiving regulatory approval, these firms person indicated their intent to motorboat ETFs investing successful BTC and ETH, highlighting the increasing request for cryptocurrency concern products successful planetary markets.
Featured representation from Unsplash, Chart from TradingView
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