The experienced name of the cryptocurrency market spoke about the approval of spot Ethereum exchange traded fund (ETF) applications.
Variant Fund Chief Legal Officer and cryptocurrency attorney Jake Chervinsky said: spot Ethereum ETFs talked about. until May Jake Chervinsky stated that he did not expect an approval and gave the reason Political environment in the USA showed:
It is difficult to say for certain that spot Ethereum applications will be approved. But I think the ETF won’t be approved until May 23. I’m just saying that the legal issues and policy environment in the US make rejection (or the SEC’s retraction request) more likely than general sentiment suggests.
On the other hand, Chairman of the US Securities and Exchange Commission Gary Gensler Recalling his implied remarks that ETF approval may be limited to Bitcoin, Chervinsky stated that Ethereum’s job may be a bit difficult. Lawyer, “BlackRock always wins” approach, he argued, was a lazy bull view.
BlackRock, Fidelity Major firms such as Washington DC and Franklin Templeton have applied for a spot ether ETF in the past few months. The SEC lastly postponed the decision on BlackRock and Fidelity’s applications on Monday, March 4.