Amid speculation over the approval of the Spot Ethereum ETF, Fox journalist Eleanor Tellet reveals that an upcoming meeting is scheduled between ETF applicants and U.S. Securities and Exchange Commission (SEC) officials. I made it. The disclosure comes after a range of mixed feelings from industry participants regarding potential approval.
Ethereum ETF applicants meet with SEC staff
The talk began with Nate Geraci, co-founder of ETF Institute, sharing insights from conversations with prospective Spot Ethereum ETF issuers. The issuer expressed “extreme pessimism” about the prospects for approval. Earlier, Matthew Siegel, head of digital asset research at VanEck, one of the applicants for the Spot Ethereum ETF, expressed a similar opinion.
Moreover, Mr. Siegel's comments on the podcast indicate a lack of optimism from Mr. Van Eck's perspective, and there is widespread uncertainty. But Mr. Tellet's revelations signal a possible shift from the SEC's previous “radio silence.” While these scheduled meetings do not guarantee approval, they represent a break from the perceived lack of regulatory involvement.
This newly discovered communication may provide an opportunity for Ethereum ETF applicants to address concerns or provide additional information to the SEC. Moreover, it can even influence the decision-making process. The importance of these scheduled meetings lies in the potential for increased transparency and dialogue between ETF applicants and regulators.
Such engagement will help clarify regulatory expectations and requirements and facilitate a more informed evaluation of Ethereum ETF proposals. Furthermore, this reflects a proactive approach by both sides to navigate the complexities of introducing Ethereum-based financial products to the market.
Also read: Spot Ethereum ETF: ARK 21Shares Update Application, No Staking
Impact on ETH price
Additionally, the outcome of these meetings may have far-reaching implications for the virtual currency and financial markets. Approval of the Spot Ethereum ETF could open the door to broader institutional participation in Ethereum, potentially facilitating increased liquidity and market stability. Therefore, we can expect a rebound or even a parabolic spike in Ethereum price.
On the other hand, a prolonged rejection or delay could dampen investor sentiment and even have a negative impact on the ETH price. Michael van de Poppe, a prominent crypto analyst at He pointed out that there is a possibility.
Meanwhile, Ark Invest and 21Shares have removed staking functionality from their integrated Ether ETF applications. Prior to this, Grayscale withdrew its Ethereum futures ETF. Netizens are speculating that Ark 21Shares will prove beneficial for applications since the SEC had previously denied the staking feature.
Furthermore, Grayscale’s withdrawal from the ETH futures ETF is also seen as a positive development. The community believes that the asset management company will not withdraw the application if it is not convinced that approval of the Spot Ethereum ETF is imminent. This story begins with Grayscale's constant battle in the spot Bitcoin ETF space, leading to the approval of these investment products.
Also Read: Bloomberg Reveals Reasons Behind Bitcoin, ETH, SOL, XRP, SHIB Price Crash
