cryptocurrency journalist Eleanor Terrett recently shared some thoughts on the approval of Ethereum spot ETFs by the Securities and Exchange Commission (SEC).
Once-high optimism about the SEC approving Ethereum spot ETFs by May 23 is now waning, according to the journalist.
In recent weeks, meetings between companies, asset custodians and the SEC have been largely one-sided. Companies and custodians are trying to mobilize SEC officials to start the process, but officials are not stepping in in any meaningful way as they did with Bitcoin spot ETF applications.
The reason behind this lack of engagement is believed to be due to the SEC’s dissatisfaction with the approval of Bitcoin spot ETFs. SEC chairman Gary Gensler reportedly believes he has already pacified the industry with this approval.
However, this was not well received by everyone. Influential anti-crypto politicians, including Senator Elizabeth Warren, are angry at the SEC for approving Bitcoin ETFs in the first place. They oppose the same thing happening to Ethereum.
It seems difficult to evaluate the SEC staff’s stance on this issue. “We’re not sure anyone really knows what’s going on in his head,” a source told Terrett. “But if they’re going to have a chance, they’re going to have to start working soon,” he said.
With just over 2 months until May 23, time is running out for Ethereum spot ETFs to be approved.
*This is not investment advice.
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