Coin Edition -
- SEC approval timeline for spot Ethereum ETFs uncertain.
- Political factors may influence the SEC’s decision-making process.
- Industry leader downplays prediction accuracy.
Nate Geraci, the president of the ETF Store, took to social media to reveal that it is impossible for anyone to accurately determine when the US SEC will fully approve spot Ethereum (ETH) exchange-traded funds in the country.
When will SEC approve spot eth ETF registration statements?*Nobody* knows for sure, but my expectation would be next few weeks.2-3 months max.IMO, heavy lifting already done following spot btc ETFs & eth futures ETFs.Just a matter of how long SEC wants to string this out.— Nate Geraci (@NateGeraci) May 28, 2024
Geraci expected that the full approval of spot ETH ETFs might occur in the “next few weeks.” However, the ETF Store president suggested that the maximum time for approval can even be 2–3 months, adding:
“IMO, heavy lifting already done following spot btc ETFs & eth futures ETFs. Just a matter of how long SEC wants to string this out.”
Bloomberg Senior ETF analyst Eric Balchunas remarked July 4th, Independence Day, could be a good “over/under.” Geraci replied that he appreciated the suggestion, noting that he believes the SEC will approve the S-1 filings from American asset management firms at least by July 4.
With digital assets becoming a major political topic, an X user pointed out that the Democratic Party needs a win on cryptocurrencies with President Joe Biden’s approval rating declining against his competitor, Donald Trump. The approval of spot ETH ETFs would be the easiest way to win the confidence of digital asset enthusiasts, the user said.
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