US financial regulator Securities and Exchange Commission (SEC) is taking steps towards its decision on a Spot Ethereum (ETH) Exchange-Traded Fund (ETF) by calling for public comments on three applications.
The Securities and Exchange Commission asked for public comments on three Spot Ethereum ETF applications. Comments on the Fidelity Ethereum Fund, Grayscale Ethereum Trust and Bitwise Ethereum Trust are due in 21 days. Bloomberg ETF analyst Eric Balchunas says the odds of a Spot ETH ETF approval by May 2024 are a pessimistic 25%.
The lack of engagement seems to be purposeful vs procrastination. No positive signs/intel anywhere you look. Personally hope they do approve it but it just ain't looking good. https://t.co/nuBdCDE18L — Eric Balchunas March 25, 2024 Ethereum holders' sentiment has likely dampened as analysts share dismal odds of an approval by May 2024.
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