Jan van Eck, CEO of investment giant VanEck company, US Securities and Exchange Commission (SEC), Ethereum ETF He suggested that he would probably reject offers to initiate proceedings.
Various financial institutions earlier this year Bitcoin ETFAlthough it has approved applications for ETH ETFs, VanEck CEO Jan van Eck offered the view in an interview with CNBC that the regulator is unlikely to approve ETH ETFs.
VanEck was one of the first applicants for Ethereum in the US, and the CEO predicted that their application, along with that of Ark Invest CEO Cathy Wood, would likely be rejected in May.
As we reported as Koinfinans.com, Jan van Eck said, “The legal process is a stage where regulators must comment on the applications. “This process took weeks for Bitcoin ETFs, and we now expect a similar situation to occur with Ethereum applications.” he said.
After years of rejecting BTC ETFs, the SEC re-evaluated and approved the applications following a court ruling in January. ETFs are gaining popularity by allowing investors to gain exposure to an asset without purchasing it.
In March, the regulator announced that it needed more time to evaluate the possibility of an Ethereum ETF and postponed its decision until May.
However, some crypto firms, such as US-based crypto exchange Coinbase and blockchain software provider Consensys, are encouraging the SEC to approve Ethereum ETFs, highlighting that Ethereum’s cybersecurity and fraud resistance is higher than Bitcoin.
