Will the Ethereum spot ETF be blocked by the SEC in May? Gary Gensler: I will never disclose

This site (120bTC.coM): U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler sidestepped questions about whether the SEC might approve an Ethereum spot ETF.

In an exclusive interview with Yahoo Finance, Gensler talked about the position of the Ethereum spot ETF. He emphasized that he did not wish to make any judgments in advance and would not make any preconceptions. He said that for such applications, the agency will make a decision based on the facts and current circumstances.

In previous interviews, Gensler emphasized that the SEC did not clearly express its recognition of digital assets in its decision to approve the Bitcoin spot ETF, nor did it mean that they would adopt a similar attitude towards dealing with Ethereum. Fang and other cryptocurrencies.

SEC postponed BlackRock and Fidelity’s Ethereum spot ETF applications this month

After BlackRock and Fidelity submitted Ethereum spot ETF applications to the SEC in November last year, Hashdex , ARk/21Shares, VanEck... and other 10 financial institutions have also followed suit. There are currently 8 Ethereum spot ETF applications. However, the SEC has repeatedly postponed decisions in recent months. The most recent one was the postponement of the decision announced on the 4th of this month. BlackRock, Fidelity make decision on Ethereum spot ETF application.

The SEC is also seeking public opinion on whether the two ETFs should be approved, and is specifically asking whether Ethereum’s PoS mechanism will raise concerns that Ethereum is vulnerable to fraud and manipulation.

8 Ethereum spot ETF related application schedule

Gensler: The crypto space is full of abuse and fraud

Another On the other hand, Gensler once again criticized "the entire cryptocurrency field is rife with abuse and fraud" in an exclusive interview on Friday. As Bitcoin hit a new all-time high this week, he called on investors to realize that Bitcoin is a "highly speculative currency." unstable and unstable underlying assets.”

"Look at the series of bankruptcies that happened in 2022 and 2023, when investors didn't get proper disclosures from the middle of the market, from the intermediaries. By the way, for the audience, it's not that Decentralization. Intermediaries are aggregating investors' assets without providing "proper disclosure," which I think puts the investing public at risk and they are doing something we would never allow the NYSE to do. ”

Experts have different opinions on the approval of the Ethereum spot ETF

The market’s optimistic expectations for the Ethereum spot ETF to be approved by the SEC for listing have also become the reason why ETH once reached $4,000 in recent days. A major catalyst. However, some experts have different opinions on whether the Ethereum spot ETF can pass in May.

Bloomberg ETF analyst James Seyffart said optimistically in January that the SEC approved 9 Ethereum-related futures last year ETF, he has "implicitly" acquiesced that Ethereum is a commodity, which means that the first Ethereum spot ETF is expected to be listed this year. In late January, he estimated that the probability of approval in May was about 60%. However, He also admitted that there are still many ways for the SEC to continue to delay. If it is not approved in May, it may have to wait until 2025.

However, there are also many institutions that are pessimistic about the SEC releasing it in May this year. Mark Yusko, founder and CEO of Morgan Creek Capital, and analysts at JPMorgan Chase both expect that the Ethereum spot ETF will be released in May this year. The probability of approval in 2024 is less than 50%.

Fox Business reporter Eleanor Terrett even quoted people familiar with the matter in January as saying that the SEC's current position is to "forcefully reject".

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