News View Non-AMP

SEC Says ‘No’ to Ethereum ETFs, but Issuers Keep the Faith

Published by
Qadir AK

The approval of spot Ethereum Exchange-Traded Funds faces uncertainty as the U.S. Securities and Exchange Commission exhibits resistance. Fox Business reporter Eleanor Terrett sheds light on diverse expectations surrounding the SEC’s stance, revealing potential challenges and conflicting opinions.

SEC’s Current Position

Terrett reports a “hard no” from sources within the SEC, signaling “some internal resistance” to approving spot Ethereum ETF. 

In her tweet, Terrett also mentions SEC commissioner Hester Peirce, known for her pro-cryptocurrency stance, who has been advocating for a more straightforward decision process. Pierce criticized the reliance on legal victories to guide ETF approvals.

Despite SEC resistance, Terrett highlights optimism among asset managers like BlackRock, whose track record of getting ETFs approved has raised hopes of getting Ethereum ETFs approved by summer this year. Blackrock expresses confidence, citing the smooth launch of Bitcoin spots as a potential catalyst for Ethereum spot ETF approval.

Terrett anticipates further insights into the SEC’s stance in the coming months, mainly through engagements with S-1 registration forms. 

Varying Expectations

Expectations on spot Ethereum ETF are varying. Bloomberg ETF analyst Eric Balchunas suggests a 70% chance of approval in May, while JP Morgan’s Nikolaos Panigirtzoglou is less optimistic, predicting a 50% chance.

JP Morgan Analysts’ Cautious Stance

JP Morgan analysts, led by Nikolaos Panigirtzoglou, remain cautious, estimating the likelihood of approval to be no higher than 50%. Regulatory and judicial considerations and uncertainty surrounding Ethereum’s classification as a commodity or security contribute to their skepticism.

Upcoming Developments

The SEC’s recent delay in deciding on Fidelity’s Ethereum Spot ETF until March 5, 2024, extends the evaluation period. The final decision on Spot Ethereum ETFs is expected between late January and August 2024.

The approval of spot Ethereum ETFs remains clouded in uncertainty, with conflicting signals from the SEC, varying expectations from expert figures, and ongoing regulatory uncertainties. 

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

XRP News: Nasdaq Firm VivoPower to Launch $100M XRP Strategy

XRP has changed the tone of big institutions who thought Bitcoin is the only assets…

June 3, 2025

Crypto News: Binance to List Hyperliquid ($HYPE), Will the 63% Average Token Surge Repeat?

Binance U.S. is all set to launch spot trading for Hyperliquid (HYPE) soon. HYPE is…

June 3, 2025

Ripple News: John Deaton Says XRP ETFs Are Coming

BitGo, a leading crypto custody and trading firm, has entered a strategic partnership with VivoPower.…

June 3, 2025

XRP Price Prediction For June 3

XRP’s price has been under pressure lately, with the token stuck in a bearish trend.…

June 3, 2025

Pi Network Beats XRP for Top Spot in Latest Crypto Usage Poll

Pi Network has outperformed XRP in a recent poll about cryptocurrency usage on Zypto VISA…

June 3, 2025

Best Cryptocurrencies for June 2025: Ripple (XRP), Dogecoin (DOGE), Mutuum Finance (MUTM)

As market sentiment shifts and fresh momentum builds across digital assets, June 2025 presents a…

June 2, 2025