According to recent sources Applicant for Ethereum Spot Exchange Traded Fund (ETF) We are confident of approval from the U.S. Securities and Exchange Commission (SEC).
Eleanor Terret reveals opinion from Ethereum ETF issuer
Eleanor Terret, Fox Business correspondent and journalist. shared It exposes possible obstacles and multiple perspectives, along with varying expectations of the SEC’s position. Terret used the social media platform X (formerly Twitter) to share its developments with the cryptocurrency community.
In the X post, Terret mentioned several anonymous sources who commented on the development. One source that has provided commentary on this topic is a Bitcoin spot issuer. Ethereum Apply for spot ETF.
Terret reported that the tipster speculated that the SEC would have to allow Ethereum spot exchange-traded products. This is due to the successful launch of a number of Spot Bitcoin ETFs two weeks ago.
The journalist also highlighted another reference weighing on the potential timeline for ETH ETF approval. According to sources, the Ethereum ETF is expected to be ‘launched by the end of the summer’ this year.
It also supports its claim by citing the following: black stone‘s successful track record of getting a BTC ETF approved last year and the SEC’s approval of an ETH futures ETF could serve as factors that could force regulators to allow an ETH ETF.
Interestingly, Terret asked whether SEC Chairman Gary Gensler’s position that Ethereum could be a security would affect the likelihood of approval of an ETH ETF. The tipster noted Ripple’s partial victory over the SEC in July 2023.
It said:
The fact that the CFTC believes ETH is a commodity, combined with Ripple’s partial court victory that found XRP is not a security in secondary market trading, will make it an uphill battle for Gensler to take the position that most digital assets are securities going forward.
Terret also mentioned the SEC Commissioner. hester pierceAn overview of a potential settlement for an Ethereum ETF. She claimed that Peirce told Coinage media in an interview that the regulatory watchdog had no intention of “repeating the same mistake of delay with the ETH ETF.”
Pierce said steps taken to accommodate other products should also apply to over-the-counter products. “We need to give these products the same kind of considerations we apply to similar products in a ‘regular way,’” he said.
Regulator’s position on the product
Despite these claims, Terret still believes the decision on this topic rests with the SEC. Interestingly, she also shared sources substantiating her negative stance on issues with regulators.
“Another source told me that the SEC’s position at this very moment is firmly against it and that there is currently internal resistance to the idea,” the reporter quoted the insider as saying.
So far, the Fox reporter expects more details to emerge about the SEC’s position in the coming months. This is where SEC staff are primarily concerned with S-1 filings. BTC Spot ETF.
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