- James Seifert believes the SEC will finally reject spot ETH ETFs by Might twenty third.
- Seifert believes that in contrast to the Bitcoin ETF, the SEC shouldn’t be partaking with issuers on the specifics of Ethereum.
- Eric Balchunas additionally believes that though the introduction of ETH ETFs will probably be delayed, it would ultimately materialize in the long run.
Outstanding ETF analyst James Seifert believes that the US Safety and Change Fee (SEC) will finally reject the applying for a Spot Ethereum ETF by Might 23, 2024. In his current submit on XETH, Mr. Seifert stated his cautiously optimistic stance on his ETF has lately modified. He stated the SEC has not labored with issuers on the specifics of Ethereum, a situation that’s utterly reverse to this fall's Bitcoin ETF.
Mr. Seifert acknowledged his place after the SEC launched its subsequent report. information The applying for Hashdex Ethereum ETF on March nineteenth has been postponed. He believes the SEC will announce additional delays within the coming days. VanEck, Ark/21Shares and Grayscale are all scheduled to be delayed throughout the subsequent 12 days, he stated.
Nevertheless, the analyst famous that the delay is no surprise as he believes Might 23 is the one deadline that issues. As highlighted within the earlier article, the analyst has maintained this place from the start. submit From February sixth after the SEC delayed the approval of Invesco and Galaxy's ETH ETF.
The possibilities of an Ethereum ETF being permitted proceed to dwindle, and business observers usually are not very optimistic about its success. On March 11, Eric Balciunas, senior ETF analyst at Bloomberg, famous that the likelihood of ETH ETF approval has dropped to 35%. He stated the Ethereum ETF doesn’t exhibit the indicators that led to the approval of a Bitcoin ETF final January.
Regardless of the low stage of optimism, Balciunas believes that the SEC not approving the Ethereum ETF on Might 23 will solely delay its realization. However he’s constructive that it’ll occur in the long term.
ETH costs fell considerably on Tuesday following the SEC's delay in approving the HashDex ETF. The flagship altcoin fell greater than 10% on Tuesday, its greatest single-day decline since early 2024. On the time of writing, ETH was buying and selling at $3,229, in keeping with TradingView knowledge.
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