Summary
TLDR: Representatives from the SEC engaged in discussions with Coinbase and Grayscale about pending Ethereum ETFs. Coinbase presented data supporting the approval of Ethereum ETFs, while Grayscale focused on listing the Grayscale Ethereum Trust. The crypto community has differing opinions on the potential implications of these talks, with some expressing uncertainty and others seeing hope with BlackRock’s involvement. The SEC may base their decision on correlation analysis.
Key Points
1. Representatives from the SEC engaged in discussions with Coinbase and Grayscale regarding pending spot Ethereum exchange-traded funds (ETFs).
2. Coinbase emphasized that potential Ethereum ETF shares would fall under commodity-based shares, similar to Bitcoin ETFs, and highlighted the robustness of Ethereum futures and spot markets.
3. The crypto community has differing opinions on the potential implications of these talks, with ETF expert Nate Geraci expressing uncertainty about potential grounds for disapproval of spot ether ETFs, and senior ETF analyst Eric Balchunas voicing apprehension about the SEC’s silence on the pending applications.