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Ethereum ETFs from May? The SEC's decision is still pending
Read what VanEck CEO says about the prospects of an Ethereum ETF. Learn more about the SEC's decision and the opportunities for Ethereum funds.
Ethereum ETFs from May? The SEC's decision is still pending
After the successful approval of the Bitcoin spot ETF by the US Securities and Exchange Commission (SEC) on January 10, 2024, the crypto community is eagerly awaiting the decision regarding Ethereum ETFs. The first Ethereum funds are expected to hit the market in May. This development has attracted interest from well-known financial services providers such as Grayscale, VanEck, Bitwise, Hashdex, 21Shares, Fidelity and Franklin Templeton, who have submitted applications for Ethereum ETFs.
Ether's performance compared to Bitcoin shows that Ether has risen 73.56 percent over the past twelve months and is currently trading at around $3,208. In comparison, Bitcoin is still up 141.9 percent over the same period. Despite Ethereum's current underperformance, new stimulus could give the Ether market a boost.
The SEC’s decision on approving Ethereum ETFs is expected in May. While some analysts such as JPMorgan's Nikolaos Panigirtzoglou are optimistic and believe an imminent approval of the Ethereum ETF is possible, Jan van Eck, CEO of VanEck, is skeptical. According to Van Eck, the SEC's delaying tactics regarding Ethereum ETFs show a decreasing likelihood of approval. Industry analysts such as James Seyffart and Eric Balchunas share this skeptical view and are critical of the chances of approval.
Despite increasing skepticism from industry experts and analysts, applicants such as Grayscale, BlackRock, Fidelity and VanEck continue to work hard on their Ethereum ETF products. The SEC emphasizes that it needs sufficient time to review the proposals and therefore the decision on Ethereum spot ETFs is still pending. The crypto community remains excited about the possible approval of an Ethereum ETF in the US.