The Ethereum (ETH) community has continued to eagerly await news on approving a spot Ethereum Exchange-Traded Fund (ETF) slated to occur by May.<\/p>\n
However, as the US Securities and Exchange Commission (SEC) maintains a conspicuous silence on the matter, speculation has risen on the likelihood of the approval.<\/p>\n
This speculation is further fuelled by the scarcity of concrete details regarding the approval process, leaving investors and enthusiasts worried and anticipating.<\/p>\n
In the spot Ethereum ETF debate, notable voices from the cryptocurrency space have offered their perspectives.<\/p>\n
Renowned Bitcoin maximalist and advisor to the president of El Salvador, Max Keiser, has recently expressed<\/a> skepticism regarding the SEC’s cautious approach to approving an Ethereum ETF.<\/p>\n Keiser, known for his staunch advocacy of Bitcoin and skepticism towards alternative cryptocurrencies, dismissed Ethereum as a “proof-of-stake scam,” suggesting it lacks the regulatory backing necessary for SEC approval.<\/p>\n The SEC is right not to approve an Ethereum (ETH) ETF<\/p>\n It\u2019s a proof-of-stake scam that fails on all requirements the SEC would look for. <\/a><\/p>\n \u2014 Max Keiser (@maxkeiser) April 11, 2024<\/a><\/p>\n<\/blockquote>\n Keiser’s sentiment echoes that of Bloomberg\u2019s Senior ETF Analyst, Eric Balchunas, who also recently shared a conservative outlook on the likelihood of an ETH spot ETF receiving regulatory approval.<\/p>\n Balchunas estimated the chances of approval at a mere 25%, further fueling uncertainty surrounding the prospect of an Ethereum ETF.<\/p>\n Re Eth ETF approval, we are holding the line at 25% odds altho tbh it is a very pessimistic 25%. The lack of engagement seems to be purposeful vs procrastination. No positive signs\/intel anywhere you look. Personally hope they do approve it but it just ain’t looking good. <\/a><\/p>\n\n
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