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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- May 03, 2024 11:54 UTC
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May Miss for Ethereum ETFs? Top Analyst Predicts August Approval
Michaƫl van de Poppe says it's unlikely there will be an Ethereum ETF approval in May despite the deadline for some applications.
He believes the SEC will delay approval, not deny them entirely, and expects a higher chance for approval in August.
Michael Saylor from MicroStrategy is more bearish, predicting the SEC will classify Ethereum as a security and reject all spot ETF applications.
Crypto expert Michaƫl van de Poppe has shared his take on the chances of an Ethereum Exchange-Traded Fund (ETF) getting the green light this May. He believes the odds are slim as the deadline approaches for three leading contenders among seven applicants vying for an Ethereum Spot ETF.
Here’s what he has to say.
May Doesn’t Look Promising!
In a recent tweet, van de Poppe pointed out the ticking clock for Ethereum Spot ETF hopefuls like VanEck, Ark 21 Shares, and Hashdex Nasdaq. He doesn’t see an Ethereum ETF approval happening in May.
Van de Poppe doesn’t think the SEC will label ETH ETFs as securities, which could trigger legal battles. Instead, he thinks they’ll find reasons to delay approval beyond May.
Will August Bring Better News?
But van de Poppe isn’t alone in his skepticism. MicroStrategy CEO Michael Saylor shares his doubts about an Ethereum ETF approval. In fact, Saylor predicts it might never happen.
Saylor’s Harsh Forecast
Saylor predicts the SEC will classify Ethereum as a security this summer, leading to rejections for spot ETF applications, even from industry giants like BlackRock.
At the MicroStrategy World 2024 conference on May 2, Saylor made these predictions public. He also warned that other cryptocurrencies further down the ladder, like BNB, Solana (SOL), XRP, and Cardano (ADA), could face similar issues.
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