Ethereum

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>VanEck CEO doubts the approval of a spot Ether (ETH) exchange-traded funds by the U.S. Securities and Exchange Commission in May.</li>
 <li>Seven applications for spot Ether ETFs are currently pending with the SEC.</li>
</ul>
<p>Jan van Eck, CEO of investment firm VanEck, has expressed skepticism over the approval of a spot Ether exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) in May.</p>
<p>In a recent discussion with CNBC, van Eck stated that the firm’s application for a spot <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> ETF is likely to be rejected. He highlighted that VanEck was the first to apply for a spot Ether ETF in the U.S., alongside ARK Invest, led by Cathie Wood. Both firms are awaiting a final decision on May 23 and May 24, respectively.</p>
<h2 id="regulatory-hurdles">Regulatory Hurdles</h2>
<p>Van Eck referred to the legal process, explaining that regulators usually provide feedback on applications weeks ahead of time. However, he noted that this has not been the case with Ethereum. CoinShares CEO Jean-Marie Mognetti shared a similar viewpoint, expressing doubt about any approvals this year.</p>
<p>This comes after a lengthy period of inactivity from the SEC, with seven spot Ether ETF applications still pending. Among the applicants are prominent fund issuers such as Grayscale, BlackRock, and Fidelity.</p>
<h2 id="analysts-weigh-in">Analysts Weigh In</h2>
<p>Eric Balchunas, a senior Bloomberg ETF analyst, and others have pointed to the ongoing lack of communication between the regulator and prospective fund issuers as a major reason why a May ETF approval seems increasingly doubtful. Balchunas recently reduced his odds for a May Ether ETF approval from 70% to 35%.</p>
<p>James Seyffart, another ETF analyst, stated that the absence of comments or interactions from the SEC is a negative sign. He added that there’s no reason for the SEC to have done absolutely nothing for months.</p>
<p>Meanwhile, VanEck’s spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> ETF, trading under the ticker HODL, is the fifth largest of the ten newly launched funds. Since its launch in mid-January, it has seen an inflow of $461.7 million, according to data from Farside Investors.</p>
<p>Van Eck spoke positively about the success of Bitcoin ETFs, describing Bitcoin as a “maturing asset,” and noting that many investors have yet to gain exposure to it.</p>

Ethereum ETF Denial Predicted by VanEck CEO – Impact & Insights

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