Bloomberg analyst predicts spot Ethereum ETF won’t get approved in May

Mar 20, 2024
Bloomberg analyst James Seiffert believes that the Ethereum spot exchange-traded fund will not be approved in May due to a lack of interaction between US regulators and potential issuers regarding these products. Previously, this probability was estimated at 35%.

In his blog, James Seiffert wrote that he expects a refusal on May 23 in this round. Recall that the Securities and Exchange Commission previously delayed a decision on the Ethereum spot exchange-traded fund. The analyst also noted that the SEC has not discussed Ethereum ETFs with issuers, unlike its extensive discussions on Bitcoin ETFs in January.

Currently, seven issuers are looking to launch an Ethereum fund, including BlackRock, Fidelity, Invesco with Galaxy, Grayscale, VanEck, 21Shares with Ark and Hashdex.