The potential approval of an Ethereum spot ETF is considered to be one of the catalysts that could drive the next upward trend for Ethereum. However, recent news revealed by Fox Business reporter Eleanor Terrett suggests that market optimism for the approval of an Ethereum spot ETF in May is diminishing.
Terrett quoted informed sources, indicating that the results of recent meetings between issuers, custodians, and staff members of the U.S. Securities and Exchange Commission (SEC) have been less than ideal. Despite efforts by the issuers to push the SEC staff to expedite the process, it appears that the staff members are not as proactive as they were with the Bitcoin spot ETF application.
Furthermore, there are indications that SEC Chairman Gary Gensler considers the approval of the Bitcoin spot ETF as a significant milestone for the industry and believes that approving an Ethereum ETF is not an easy task. In addition, influential anti-cryptocurrency politicians such as Senator Warren, among others, are dissatisfied with the SEC’s previous decision to approve the Bitcoin spot ETF and are opposing a similar decision for an Ethereum ETF.
With just over two months left until the crucial Ethereum ETF decision day on May 23rd, it remains to be seen what decision the SEC will make.
Successful Conclusion of CoinEx Taiwan’s 7th Anniversary Celebration, Embracing the Arrival of the Web3 Era Hand in Hand with Users
Since its establishment in 2017, CoinEx has been a professional cryptocurrency trading pla…