May 29, 2024

The SEC will ultimately approve spot Ethereum-ETFs.

Ethereum_ETF
Ethereum_ETF

The US Securities and Exchange Commission (SEC) will ultimately approve spot ETFs based on the second largest cryptocurrency by market capitalization. This was stated by JPMorgan analyst Nikolaos Panigirtzoglou to The Block.

“If there is no approval of spot ETH-ETF in May, we expect litigation. It is most likely that the SEC will eventually lose it (as well as the cases with Grayscale and Ripple last year). This means that the SEC will ultimately approve spot ETH-ETF (but not before May of this year),” he said.

In February, JPMorgan analysts estimated a 50% probability of registering spot Ethereum-ETFs. Panigirtzoglou maintains the same odds in May.

In March, Bloomberg analyst Eric Balchunas halved the likelihood of spot ETH-ETF approval in May – from 70% to 35%. That same month, GSR market maker experts estimated the chances at 20%.

In April, the SEC requested public comments on potential exchange-traded funds based on the second largest cryptocurrency from Grayscale, Fidelity, and Bitwise.

Recall, the company ConsenSys, behind the MetaMask cryptocurrency wallet, sent a letter to the Commission urging the approval of spot Ethereum-ETFs.

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