Grayscale Executive Speaks About Ethereum ETFs: “ETH ETF Is Being Misjudged! Approval Possibility Is Strong, Here’s Why!”

SEC has recently been in the spotlight Ethereum As ETF applications are postponed one by one, the hope of approval for ETFs continues to fade.

At this point, many analysts say that the possibility of approval of ETH ETFs at the end of May is decreasing or not. Grayscale Chief Legal Officer Craig Salm shared his optimism about the approval of Ethereum ETFs.

Craig Salm, who made a long post about the approval of ETHereum ETFs on his X account, He stated that he thought the ETFs would be approved, despite the lack of talks between the SEC and ETF issuers.

Stating that the lack of negotiations with the SEC is not a problem for the approval of ETFs, Grayscale manager stated that there is no need for the market to be pessimistic about ETH ETFs.

Sal also said, Bitcoin Effective negotiations with the SEC during the ETF process ETH Noting that it also includes ETFs, Ethereum Problems with ETFs, BTC He said it is the same as their ETFs, the only difference is the asset held, namely Ethereum instead of Bitcoin.

At this point, Craig Salm argued that the SEC is already dealing with these issues, so there is less need for extensive discussions in the ETH ETF process.

“Grayscale and other issuers had positive and constructive discussions with the SEC months prior to the launch of the Bitcoin spot ETF. During this process, they agreed on various details, including the creation and redemption process, cash and physical assets, authorized participants (AP), liquidity providers (LP), and custody.

Since all the issues discussed in the Bitcoin ETF process also apply to Ethereum ETFs, there is no need to re-discuss these issues for ETH ETFs.

Investors want and deserve access to Ethereum in the form of a spot ETH ETF, and Grayscale believes the approval odds for ETH ETFs are as strong as those for spot Bitcoin ETFs. “We look forward to collaborating with the SEC on these important products.”

BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, Franklin Templeton and Hashdex are among the Ethereum ETF applicants awaiting approval from the SEC.

1/ Recently, there’s been a lot of chatter about spot #Ethereum ETFs. I personally am not deterred by it and believe the ETFs should be approved. But right now I want to talk about how I think perceived “lack of SEC engagement” should be viewed at this point:

— Craig Salm (@CraigSalm) March 25, 2024

*This is not investment advice.