Industry insiders have made it clear that they are not hopeful about the release of a spot Ethereum exchange-traded fund (ETF) in May.
Commenting on the issue, Nate Geraci, head of ETF Store, pointed out in a tweet that the U.S. Securities and Exchange Commission (SEC) has been very quiet on this issue. This was contrary to what happened during the approval of Bitcoin ETFs.
Additionally, Eric Balciunas, senior ETF expert at Bloomberg, said that such a “Silence is harmful,” he said directly. Nevertheless, the SEC could decline and create a new legal conflict, especially if Grayscale is held liable after the Bitcoin ETF court victory.
Geraci said that despite skepticism about the importance of the Ethereum ETF due to the lackluster response to futures-based products, its $379 billion market capitalization makes it a big deal for the issuer. I claim that it is.
But while the crypto community is eagerly awaiting the SEC's position, the silence may be deafening among those hoping for approval of the Ethereum ETF.
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