{"id":8603,"date":"2024-03-11T21:01:34","date_gmt":"2024-03-11T21:01:34","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/sec-decision-looms-ethereum-etfs-approval-outlook-fades-ahead-of-may-23\/"},"modified":"2024-03-11T21:01:34","modified_gmt":"2024-03-11T21:01:34","slug":"sec-decision-looms-ethereum-etfs-approval-outlook-fades-ahead-of-may-23","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/sec-decision-looms-ethereum-etfs-approval-outlook-fades-ahead-of-may-23\/","title":{"rendered":"SEC Decision Looms: Ethereum ETFs Approval Outlook Fades Ahead Of May 23"},"content":{"rendered":"

The anticipation surrounding the approval of Ethereum ETFs has grown in the wake of the successful launch of Bitcoin (BTC) spot ETFs. The potential approval of ETH ETFs holds the promise of boosting the cryptocurrency\u2019s price to new heights and attracting a broader range of investors.\u00a0<\/p>\n

However, according to Fox Journalist Eleanor Terret, optimism regarding the SEC\u2019s approval of Ethereum ETFs by May 23rd is gradually diminishing.\u00a0<\/p>\n

<\/span>Ethereum ETFs Encounter \u2018One-Sided\u2019 Interactions<\/span><\/h2>\n

In a recent social media post<\/a>, Terret illuminated the challenges faced by issuers and custodians in engaging SEC staff and revealed potential factors influencing the decision-making process.<\/p>\n

Terret shared her observations, indicating that recent conversations with industry insiders revealed a lack of meaningful engagement from SEC staff.\u00a0<\/p>\n

Notably, Terret suggested that unlike the discussions surrounding Bitcoin spot ETF applications, where staff actively participated, the interactions regarding Ethereum ETFs have been \u201cone-sided.\u201d\u00a0 Terret further claimed:<\/p>\n

\n

Based on my conversations with people familiar, meetings in recent weeks have been very much one sided, with issuers and custodians trying to rally SEC staff to get the process rolling, but staff not really engaging in meaningful ways like they did with the BTC spot ETF applications.<\/p>\n<\/blockquote>\n

Terret attributed this shift to SEC Chairman Gary Gensler\u2019s belief that the approval of BTC spot ETFs already addressed industry demands. Additionally, influential anti-crypto politicians like Senator Elizabeth Warren have expressed their discontent with the SEC\u2019s approval of Bitcoin ETFs, potentially influencing the decision-making process for Ethereum ETFs.<\/p>\n

<\/span>SEC Staff\u2019s Stance Remains Elusive<\/span><\/h2>\n

According to Terret\u2019s sources, understanding the SEC staff\u2019s stance on Ethereum ETFs has proven challenging. There is uncertainty about their motivations and decision-making process. However, the clock is ticking, and industry players are hoping for the SEC staff to commence work soon if approval is possible. Terret noted:<\/p>\n

\n

One source tells me: \u201cStaff has been very hard to gauge on this and we\u2019re not sure if anyone really knows what\u2019s going on in their heads. But they\u2019re going to have to start work soon if it\u2019s going to have a shot.\u201d May 23rd is a little over 2 months away.<\/p>\n<\/blockquote>\n

The waning optimism regarding the approval of Ethereum ETFs raises questions about the cryptocurrency market\u2019s future. While the approval of BTC spot ETFs brought renewed enthusiasm, the hesitance surrounding ETH ETFs may signal a more cautious approach from the SEC.\u00a0<\/p>\n

<\/p>\n

As of this writing, ETH has surged to a new two-year high of $4,067, experiencing a notable 4.5% upward trend in the past 24 hours, in line with Bitcoin\u2019s recent upward trajectory.<\/p>\n

Featured image from Shutterstock, chart from TradingView.com\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The anticipation surrounding the approval of Ethereum ETFs has grown in the wake of the successful launch of Bitcoin (BTC) spot ETFs. The potential approval of ETH ETFs holds the promise of boosting the cryptocurrency\u2019s price to new heights and attracting a broader range of investors.\u00a0 However, according to Fox Journalist Eleanor Terret, optimism regarding […]<\/p>\n","protected":false},"author":1,"featured_media":8604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"SEC Decision Looms: Ethereum ETFs Approval Outlook Fades Ahead Of May 23 - Bitrabo","description":"The anticipation surrounding the approval of Ethereum ETFs has grown in the wake of the successful launch of Bitcoin (BTC) spot ETFs. The potential approval of"},"footnotes":""},"categories":[316],"tags":[1747,1246,1806,2223,768,1088,2190,793,520],"class_list":["post-8603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-ahead","tag-approval","tag-decision","tag-etfs","tag-ethereum","tag-fades","tag-looms","tag-outlook","tag-sec"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/8603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=8603"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/8603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/8604"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=8603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=8603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=8603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}