SEC likely to deny new Ether ETFs this week
As the anticipation builds among cryptocurrency investors and financial institutions, the U.S. Securities and Exchange Commission is expected to deliver a significant decision this week that could impact the future of), Fidelity, and VanEck, the suggestion is that the regulatory body is unlikely to approve similar products for ether at this stage.
Again, when questioned about a potential Ethereum ETF, Gensler kept his cards close to his chest, saying that “those filings will take up at the appropriate time.” He believes regulators are also wary of a slippery slope, which started with Bitcoin ETFs because Ethereum ETFs “could open the door for many other digital assets to access public markets.”
“Ethereum ETFs may mirror the path taken with Bitcoin ETFs. Since futures-based Ethereum ETFs have already been approved, if the SEC denies approval for spot Ethereum ETFs, it is likely to face legal challenges and eventually lose, similar to what happened with Bitcoin ETFs,” d'Haussy told us.Ethereum has risen around 3.8% in the last seven days of trading after a dip between mid-March and mid-May.
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