SEC Silence Raises Concerns
The highly anticipated approval of spot Ethereum exchange-traded funds (ETFs) in the US is facing a setback. Jan van Eck, CEO of VanEck, believes the SEC is likely to reject their application due to the agency’s lack of communication.
Bloomberg Analyst Downgrades Odds
Eric Balchunas, a Bloomberg ETF analyst, has lowered his odds of approval to 35%. He cites the SEC’s “radio silence” as a sign of pessimism.
Other Applications in Limbo
Van Eck’s application is not the only one facing delays. Seven other proposals for spot Ether ETFs are also stuck in limbo, with no progress in sight.
Bitcoin ETF Success in Contrast
The SEC’s approval of Bitcoin ETFs has given hope to the cryptocurrency market. Van Eck highlights the growing interest in Bitcoin as a maturing asset class.
Lack of Clarity Hurts Investors
James Seyffart, another analyst, emphasizes that the SEC’s lack of communication is a bad sign. This uncertainty creates a murky investment landscape for investors and industry stakeholders.
Conclusion
The path forward for Ethereum ETFs remains unclear. The SEC’s silence and mounting skepticism have dampened hopes for a swift resolution. Investors are left facing a blank wall, waiting for a sign from the SEC.
