Grayscale’s Confidence in Spot Ether ETF Approval

TL;DR Breakdown

  • Despite concerns about SEC communication, Grayscale’s Craig Salm remains confident in spot Ether ETF approval.
  • Approval of Ether Futures ETFs and their regulation as commodity futures strengthen the case for spot Ether ETFs.
  • Bloomberg’s Eric Balchunas expresses concern over SEC engagement, estimating a 25% chance of spot Ether ETF approval in May.
Grayscale's Confidence in Spot Ether ETF Approval
Grayscale’s Confidence in Spot Ether ETF Approval

Bloomberg ETF analyst Eric Balchunas is concerned about the SEC’s lack of engagement, which will reduce the odds of an approved spot Ether ETF in May to 25%. He described this as a “pessimistic 25%,” suggesting the lack of engagement may be intentional.

However, Salm believes the recent approval of Ether Futures ETFs and the regulation of these products as commodity futures put the spot Ether ETFs in a strong position for approval. He cited the high correlation between futures and spot products as supportive of the case for spot Ether ETFs.

Major players such as BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, Franklin Templeton, and Hashdex are among the spot Ether ETF applicants vying for SEC approval.

In conclusion, while there are concerns about the SEC’s lack of engagement and potential hurdles for Ethereum ETFs, Grayscale’s Craig Salm remains optimistic about spot Ether ETF approval in May.

The recent approval of Ether Futures ETFs and their regulation as commodity futures provide a strong precedent for spot Ether ETFs. With major players like BlackRock and Fidelity in the mix, the industry eagerly awaits the SEC’s decision, hoping for a breakthrough in ETF offerings for Ethereum.

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