As April reaches its midpoint, anticipation surrounding the prospect of spot Ethereum Trade-Traded Fund (ETF) approval continues to accentuate inside the crypto neighborhood. Initially earmarked for Could, hopes for the inexperienced mild on a spot ETF for the main altcoin are bleak amid the deafening silence from regulators, notably the SEC. Speculations abound as analysts and specialists weigh in, but concrete particulars stay elusive.
The newest growth comes from JP Morgan’s camp, projecting potential litigation in opposition to the SEC if a spot Ethereum ETF fails to materialize in Could. They speculate that such authorized motion might finally pressure the SEC’s hand in approving Ethereum ETFs.
Famend Bitcoin maximalist and advisor to the president of El Salvador Max Keiser weighed in unexpectedly, asserting the SEC’s prudence in withholding approval for an Ethereum ETF. Keiser, a vocal advocate for Bitcoin and critic of other digital belongings, dismissed Ethereum as a “proof-of-stake rip-off” unfit for SEC endorsement.
The SEC is true to not approve an Ethereum (ETH) ETF
It’s a proof-of-stake rip-off that fails on all necessities the SEC would search for. https://t.co/nLz8boTGtW
— Max Keiser (@maxkeiser) April 11, 2024
Keiser’s skepticism finds resonance with different business gamers like VanEck and CoinShares, who additionally solid doubts about SEC approval.
VanEck’s CEO foresees rejection for the Ethereum ETF in Could, citing the SEC’s reticence in offering substantive suggestions on functions. Emphasizing the necessity to shift focus away from ETF aspirations, VanEck’s CEO suggests grappling with the unpredictable ETH fuel charges as an alternative. CoinShares’ head aligns with this sentiment, predicting a bleak outlook for Ethereum ETF approval this yr, if ever.
