Summary
The SEC has delayed its decision on Hashdex and ARK 21Shares Ethereum ETFs until late May, causing Ethereum’s price to drop by 8%. Analysts are now less optimistic about approval, with market predictions showing only a 24% chance of approval. Coinbase supports Ethereum ETFs, citing Ethereum’s classification as a commodity.
Key Points
1. The United States Securities and Exchange Commission (SEC) has delayed its verdict on the Hashdex and ARK 21Shares spot Ethereum exchange-traded funds (ETFs), extending the decision period to late May with final decision dates set for May 24 and May 30.
2. Ethereum’s price fell by about 8% following the SEC’s announcement, reflecting the market’s sensitivity to regulatory decisions and uncertainty surrounding the approval of its ETFs.
3. The likelihood of an Ethereum ETF approval in May has plummeted to 24%, with market predictions showing a significant decline in confidence compared to the 75% odds following the SEC’s approval of spot Bitcoin ETFs in January.