In a recent development, Bloomberg ETF analyst Eric Balchunas said that Grayscale CEO Michael Sonneshein Ethereum It contradicted his optimistic outlook on the approval of spot ETFs. Sonneshein previously expressed his belief that these ETFs could gain approval in May.
But Balchunas has a different perspective. “I do not agree. We are pessimistic as always. “So it might happen at some point, but I don’t think it’s within a year.” Balchunas also added that any rejection and elections in November are important variables that could change the outlook.
Interestingly, Balchunas also noted that Grayscale withdrew the ’33 Act Ether Futures ETF because they wanted to focus on spot products. Balchunas made the following statement:
“The only reason why this was filed under the ’33 Act’ (compared to the ’40 Act) was to enable litigation. Withdrawing the application essentially closes the door for anyone to file a lawsuit.”
According to Balchunas, he claimed that the reason why Grayscale withdrew the application was not to present Grayscale with a huge ETF on a silver platter again. Additionally, the analyst noted that Grayscale is a BlackRock Bitcoin He said that he was the main company that got the Spot ETFs approved, yet he was criticized for the outflows from his own fund.
*This is not investment advice.
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