According to Fox Business reporter Eleanor Terrett, ETF issuers, asset management institutions, and the SEC have different opinions regarding Ethereum spot ETFs.
Optimistic predictions: SEC will follow the approval path of Bitcoin spot ETF
Eleanor Terrett mentioned that a Bitcoin spot ETF issuer, who is also an applicant for an Ethereum spot ETF, believes that the successful listing of the Bitcoin spot ETF will prompt the SEC to approve the Ethereum spot ETF.
Another report also indicates that since the Ethereum futures ETF has been approved for listing, and BlackRock has maintained a good track record in ETF applications, they believe that the Ethereum spot ETF can be listed before the end of the third quarter of this year.
Is the SEC internally strongly opposed?
Eleanor Terrett quoted insiders as saying that the current attitude of the SEC towards the Ethereum spot ETF is “strongly opposed,” and there is some resistance internally.
However, SEC Commissioner Hester Peirce, who has always supported the cryptocurrency industry, gave almost the opposite statement to the foreign media Coinage this morning:
SEC previously delayed the listing and issuance of the Ethereum futures ETF and does not want to repeat the same mistake this time. SEC needs to review these products in a regular manner, just like similar products.
Good news: SEC has recognized ETH as a commodity
SEC Chairman Gary Gensler has always insisted that only Bitcoin belongs to the category of commodities.
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SEC Chairman Gary Gensler in 2018: Ethereum is decentralized enough and not a security
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However, an anonymous source pointed out that the SEC has now recognized ETH as a commodity and, in the case of Ripple’s lawsuit, XRP trading in the secondary market was not considered the sale of securities by the judge. All of this will make it more difficult for Gary Gensler to make securities determinations in the future.
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After reading the XRP court documents, a detailed explanation of why XRP has not escaped the risk of securities
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ETF
SEC
XRP
Ethereum
Further reading
A simple introduction: What is the London Upgrade (Dencun)? What impact does it have on Ethereum and L2?
Ethereum London Upgrade (Dencun) goes live on the Goerli testnet, client synchronization issues await fixing.