May Marks “Moment of Truth” for Spot Ether ETFs: 60% Approval Odds?

Published by

Qadir AK

January 27, 2024

Expert industry analysts are eyeing May as a potential breakthrough moment, particularly concerning spot Ether ETFs. Analysts, led by Bloomberg Intelligence’s James Seyffart, are forecasting a 60% likelihood of approval, making May a focal point.

The Securities and Exchange Commission (SEC) recently deferred decisions on numerous proposed Ether ETFs, elevating the anticipation surrounding May as a pivotal juncture in the approval journey.

May 23: A Decisive Date

Identifying May 23 as a make-or-break date, Seyffart outlines a 240-day window for the SEC to evaluate proposals from industry leaders like Ark/21Shares and VanEck. A potential green light from the SEC on May 23 could pave the way for the much-anticipated spot Ether ETFs.

BlackRock, Grayscale, Ark 21Shares, and VanEck are among the major players seeking regulatory approval to launch spot Ether ETFs. Grayscale, known for its strategic approach, mirrors its Bitcoin ETF strategy in pursuing an ETH ETF, with Chief Legal Officer Craig Salm eyeing a decision from the SEC in the summer of 2024.

Echoing Caution

Despite the optimism, industry experts stress caution, acknowledging the unpredictability of spot Ether ETF approval. Seasoned finance lawyer Scott Johnson delves into the intricacies of the ETF journey, regulatory landscapes, and the SEC’s stance on digital asset offerings.

Factors such as Ether’s existence, future ETFs, and ongoing dialogues with the SEC will play a crucial role in shaping the ultimate decision.

Optimism in the Air

With the spotlight firmly on May as a probable milestone for spot Ether ETF approvals, optimism prevails in the industry. While Seyffart’s estimation leans favorably, the SEC will meticulously assess various factors before rendering a verdict. May holds the key to the future of spot Ether ETFs, and stakeholders eagerly await developments from the regulatory arena.

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.