Summary
There is a 60% chance that spot ether ETFs will be approved by the Securities and Exchange Commission (SEC) in May, according to Bloomberg Intelligence analyst James Seyffart. The SEC recently delayed decisions on potential ether ETFs from BlackRock and Grayscale, among others. Experts expect the SEC to postpone a decision on the ETFs until later this year. Seyffart believes May 23 is a key date to watch, as it marks the 240-day window for the SEC to decide on proposals from Ark/21Shares and VanEck. If a May approval doesn’t happen, Seyffart plans to monitor the situation until 2025. Grayscale is also seeking to convert its Grayscale Ethereum Trust into an ETF, with a potential decision expected in summer 2024. The SEC can ask issuers to withdraw their applications or issue denials in May, which could indicate whether approval is likely. The existence of ether futures ETFs is seen as a positive sign for spot ether ETF approval. Clues about the SEC’s decision-making process may emerge in the coming months, including filings and responses from issuers and the SEC.
Key Points
1. Spot ether ETFs have a 60% chance of being approved in May, according to Bloomberg Intelligence analyst James Seyffart.
2. The Securities and Exchange Commission has delayed decisions on potential BlackRock and Grayscale ether ETFs, along with Ark 21Shares and VanEck.
3. The SEC is expected to delay a decision on the ETFs until later this year, but if approved, May 23 could be a significant date to watch.