Fun

US SEC expected to deny spot Ether ETFs in May

News Feed - 2024-04-25 08:04:29

Helen Partz12 hours agoUS SEC expected to deny spot Ether ETFs in MayOther evidence suggests that the SEC will likely delay the approval of spot Ether ETFs, with Ether ETFs trading in Hong Kong from April 30.4398 Total views17 Total sharesNewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe United States Securities and Exchange Commission (SEC) will most likely deny spot Ether (ETH) exchange-traded funds (ETF) in May, according to a new report.


Reuters reported on April 24 that U.S. issuers and other firms expect the SEC to reject spot Ether ETF applications next month following meetings with the regulator in recent weeks, citing four people who participated in the meetings.


The four persons, who asked to be anonymous due to the private nature of the discussions, said recent meetings between issuers and the SEC have been one-sided, and agency staff have not discussed substantive details about the proposed products.


The sources compared the unsuccessful talks regarding Ether ETFs to detailed discussions between issuers and the agency in January, weeks before it approved spot Bitcoin ETFs.


Before the historic approval, the SEC rejected spot BTC ETF filings for over a decade. It only changed its stance after Grayscale Investments won a court victory against the securities regulator in August 2023.


Many analysts agree that the SEC is likely to further delay possible approval of Ether ETFs.


“It seems more likely that approval will be delayed until later in 2024, or longer,” VettaFi ETF data analyst Todd Rosenbluth reportedly said, adding that the regulatory landscape is still too “cloudy.”


Bloomberg ETF analyst Eric Balchunas previously estimated chances of the SEC approving a spot Ether ETF in May at around 35% in March. He also noted that he’d sourced “good intel” to suggest that the SEC may be giving the silent treatment to prospective fund issuers on purpose.


Related:SEC lawyers resign after ‘gross abuse’ of power in crypto case — Report


Balchunas also mentioned that SEC Chair Gary Gensler’s stance on Ether could also impact the decision process as Gensler has refused to give clarity on whether Ether was a security.


While the U.S. is apparently set for another delay, some global jurisdictions have been moving forward with plans to start trading ETF products.


On April 24, Hong Kong’s Securities and Futures Commission (SFC) officially approved the first batch of spot Bitcoin and Ether ETFs, including three BTC and three ETH ETFs by China Asset Management, Harvest Global Investments and Bosera.


Following approval, Hong Kong’s crypto ETFs are expected to start trading on April 30.


Magazine:ChainLinkGod was in High School when he started the account! X Hall of Flame# Cryptocurrencies# Ethereum# Investments# SEC# United States# RegulationAdd reaction

News Feed

Global Crypto and Blockchain Investments Soared in 2021, Rising 5.5X to $30 Billion
Global Crypto and Blockchain Investments Soared in 2021, Rising 5.5X to $30 Billion A new report by one of the Big Four accounting firms, KPMG, reveals that investment in the crypt
Bitcoin weekly funding rate reflects investor caution, yet BTC price pushes higher
Marcel Pechman4 hours agoBitcoin weekly funding rate reflects investor caution, yet BTC price pushes higherBitcoin trades above $63,000 but the futures weekly funding rate shows pro traders are cautious.2388 Total views3
China Seizes the Blockchain Opportunity. How Should the US Respond?
Michael J. Casey is CoinDesk’s chief content officer and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appe
Price analysis 6/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Rakesh Upadhyay4 hours agoPrice analysis 6/28: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBAltcoins see another week of rocky trading, while traders are viewing Bitcoin price dips as a buying opportunity, as seen
Bitcoin to enter pre-halving ’danger zone,’ but crypto CEOs remain bullish
Jesse Coghlan6 hours agoBitcoin to enter pre-halving ’danger zone,’ but crypto CEOs remain bullishBitcoin has historically dipped in the weeks before the halving and might repeat such a move within the next week.7976
Amaka Nwaokocha11 hours agoEthereum’s active addresses second-highest in history: AnalystsAnalysts at market intelligence platform Santiment suggest that the Ether market may experience increased volatility, potentiall
Bitcoin Rejected At Descending Resistance Again – Is $78,600 Still In Play?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitrue Is Launching a New Yield Farming Hub
Bitrue Is Launching a New Yield Farming Hub press release PRESS RELEASE. In the world of cryptocurrencies, it is important for any crypto exchange to offer plenty of different optio
Bitcoin Reacts to Fed’s 0% Rate Drop, Reserve Requirements Removed, $700B in Stimulus
Bitcoin Reacts to Fed"s 0% Rate Drop, Reserve Requirements Removed, $700B in Stimulus On Sunday, the U.S. Federal Reserve slashed the benchmark short-term rate by 100 basis point
Warning: Bitcoin And Altcoins Fischer Transform Indicator Turn Bearish For The First Time Since 2021
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Ethereum ETF launch drives $2.2B inflows — CoinShares
Josh O"Sullivan13 hours agoEthereum ETF launch drives $2.2B inflows — CoinSharesCoinShares reports that spot-based Ether ETFs, debuted with a significant $2.2 billion of inflows, offset by Grayscale’s $285 million in
Brayden Lindrea5 hours agoXRP ruling a ‘watershed moment,’ but we’re not out of the woods yet — LawyersThe crypto community has gathered to celebrate the recent ruling on XRP’s security status, but lawyers warn