Summary
TLDR: The fate of spot Ethereum exchange-traded funds (ETFs) in the US is uncertain as the SEC nears its decision deadline in May. Industry experts anticipate rejection, but JPMorgan suggests a legal battle could change the outcome. The SEC has consistently delayed decisions on Ethereum ETFs, showing reluctance to approve them. Despite this, major asset managers continue to pursue these investment products.
Key Points
1. Jan van Eck, CEO of VanEck, anticipates rejection of spot Ethereum ETFs by the SEC in May, despite being an early applicant for approval.
2. Industry analysts, such as James Seyffart and Eric Balchunas of Bloomberg Intelligence, share a pessimistic view on the approval odds of spot Ethereum ETFs, with Balchunas reducing the chances from 70% to 35%.
3. The SEC has been consistently postponing decisions on spot Ethereum ETFs, citing the need for “sufficient time” to review proposals, indicating a reluctance to approve them. Despite this, major asset managers like BlackRock and Fidelity continue to pursue approval for Ethereum ETFs.