Nate Geraci, president of The ETF Store, revealed that a small number of Spot Ethereum ETF applicants have met with the U.S. Securities and Exchange Commission (SEC) to discuss the proposed offering methodology.
Uncertainty looms as Spot Ethereum ETF deadline approaches
Geraci highlighted a post by Bloomberg senior writer Joe Wright, who said that discussions between Spot Ethereum ETF applicants and the SEC have been largely one-sided.
It is generally known that the agency is failing to provide the “critical” feedback these filers need to complete their products. Therefore, there are concerns that the May 23rd Ethereum ETF approval deadline may not become a reality.
blackrock, grayscale, bit by bit, the agency is awaiting comment on this proposed rule change. To this end, the agency has launched the following initiatives: Public comment period About some of the proposed Spot Ethereum ETFs. The three-week deadline for these comments is notable still in place.
Bloomberg ETF analyst Eric Balchunas jumped on the conversation and said that the actions taken by the SEC do nothing to impact Ethereum's odds of spot approval. The analyst said all the committee needs to do now is provide critical feedback to applicants who are eagerly awaiting its decision.
Probability of approval plummets
Odds recently collected from polymarket gamblers suggest investors are doing a double take about the chances of receiving approval from the SEC. Data from prediction platforms shows a clear divide among these gamblers, Spot Ethereum ETF approval odds At 45%.
Even Balciunas revised his outlook on the odds of approval for the Spot ETH ETF by May. To be precise, he lowered his forecast from 70% to 30%, reflecting growing skepticism among investors. James Seifert, another senior analyst at Bloomberg ETF, strongly believes that the SEC's silence on this issue, particularly Fidelity's filing, does not bode well for the proposed rule changes.
The possibility of a “security tag” being placed on Ethereum is one of the concerns investors have about the possibility of receiving SEC approval. but, BlackRock CEO Larry Fink He believes a spot Ethereum ETF could still become a reality despite the SEC's efforts to put a security tag on ETH.
