Spot ether ETF decision week just got a bit more interesting
The post Spot ether ETF decision week just got a bit more interesting appeared on BitcoinEthereumNews.com. It’s spot ether ETF decision week — a pre-Memorial Day celebration of sorts for a certain segment of the crypto and financial communities. Or a letdown. The lead-up to the ruling didn’t seem to carry the same buzz as the Securities and Exchange Commission’s verdict on BTC funds in January. That perhaps changed a bit Monday. After weeks of industry watchers expressing doubts that the SEC was ready to approve such funds, Bloomberg analysts changed their SEC approval odds from 25% to 75%. Ether rose above $3,500 just before 5 pm ET Monday — up about 14% on the day. A person familiar with the spot ether ETF applications told Blockworks that “conversations are progressing.” They were granted anonymity given the sensitivity of the discussions. An SEC spokesperson declined to comment. The Bloomberg analysts alluded to a potential regulatory change of stance given how crypto has appeared to become more of a political issue in recent days and weeks. Donald Trump has essentially promised to be a pro-crypto president if returned to the White House in the upcoming election. Then, 12 Democratic senators joined Republicans last week to pass a resolution to overturn the SEC’s Staff Accounting Bulletin (SAB) 121. The move could signal that more Democrats look to gain favor with pro-crypto voters the way Republicans historically have. Still, industry watchers have named several reasons they think the SEC might not be ready to allow spot ether ETFs to start trading. “Concerns over the liquidity of ETH’s spot and futures markets, along with its previous classification as a security by the SEC, contribute to skepticism about swift approval,” Fineqia International analyst Matteo Greco said in a Monday research note. Read more: Why the SEC could choose to deny ether ETFs, and what could happen next Others have pointed out…
The post Spot ether ETF decision week just got a bit more interesting appeared on BitcoinEthereumNews.com.
It’s spot ether ETF decision week — a pre-Memorial Day celebration of sorts for a certain segment of the crypto and financial communities. Or a letdown. The lead-up to the ruling didn’t seem to carry the same buzz as the Securities and Exchange Commission’s verdict on BTC funds in January. That perhaps changed a bit Monday. After weeks of industry watchers expressing doubts that the SEC was ready to approve such funds, Bloomberg analysts changed their SEC approval odds from 25% to 75%. Ether rose above $3,500 just before 5 pm ET Monday — up about 14% on the day. A person familiar with the spot ether ETF applications told Blockworks that “conversations are progressing.” They were granted anonymity given the sensitivity of the discussions. An SEC spokesperson declined to comment. The Bloomberg analysts alluded to a potential regulatory change of stance given how crypto has appeared to become more of a political issue in recent days and weeks. Donald Trump has essentially promised to be a pro-crypto president if returned to the White House in the upcoming election. Then, 12 Democratic senators joined Republicans last week to pass a resolution to overturn the SEC’s Staff Accounting Bulletin (SAB) 121. The move could signal that more Democrats look to gain favor with pro-crypto voters the way Republicans historically have. Still, industry watchers have named several reasons they think the SEC might not be ready to allow spot ether ETFs to start trading. “Concerns over the liquidity of ETH’s spot and futures markets, along with its previous classification as a security by the SEC, contribute to skepticism about swift approval,” Fineqia International analyst Matteo Greco said in a Monday research note. Read more: Why the SEC could choose to deny ether ETFs, and what could happen next Others have pointed out…
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