1 year ago
Tron blockchain laminitis Justin Sun says the US Securities and Exchange Commission (SEC) would not o.k. an Ethereum exchange-traded money (ETF) successful May.
In an April 28 post connected X (formerly Twitter), Sun noted that the crypto manufacture inactive needs to hole for a semipermanent acquisition with regulators, particularly successful helping them recognize however the emerging manufacture operates.
“My honorable sentiment (NFA) is that an Ethereum ETF won’t beryllium approved successful May. The crypto manufacture inactive needs to hole for a semipermanent acquisition with regulators, focusing connected helping them recognize crypto,” Sun said.
Sun’s stance echoes the sentiments of galore marketplace analysts anticipating the SEC dismissing the pending Ethereum ETF applications.
For instance, Bloomberg ETF expert Eric Balchunas placed the chances of the SEC greenlighting a spot Ethereum ETF successful May astatine 25%. He attributed this skepticism to the SEC’s little progressive engagement successful the exertion process than the Bitcoin ETF period.
Also, caller speculations suggest the Gary Gensler-led bureau has initiated efforts to classify ETH arsenic security, prompting the Consensys lawsuit against the Commission.
Additionally, feedback from recent meetings with the SEC indicates a pessimistic outlook, with support prospects appearing bleak.
These revelations person dwindled the likelihood of an Ethereum ETF support to 11%, its lowest level this year, arsenic indicated by Polymarket data.
Nevertheless, immoderate optimism persists arsenic ETF issuers similar BlackRock and Grayscale proceed to update their applications contempt the soundlessness and anticipation of rejection.
Notably, plus absorption steadfast Franklin Templeton’s spot Ethereum ETF appeared connected the Depository Trust and Clearing Corporation (DTCC) website contempt the SEC deferring its determination connected the ETF exertion connected April 23.
Craig Salm, Grayscale’s Chief Legal Officer, said the US SEC’s deficiency of engagement with spot Ethereum ETF applicants wouldn’t beryllium a decisive origin hindering the prospects of specified products.
“Investors privation and merit entree to Ethereum successful the signifier of a spot Ethereum ETF and we judge the lawsuit is conscionable arsenic beardown arsenic it was for spot Bitcoin ETFs,” Salm said.
The station Justin Sun predicts SEC rejection of Ethereum ETF successful May, citing request for crypto education appeared archetypal connected CryptoSlate.
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