Ethereum ETF Approval May Come!

Ethereum ETF Approval May Come! Bloomberg analyst James Seyffart, who attracted attention with his comments on Bitcoin spot ETFs, said that the SEC also accepts Ether as a commodity and that it is highly likely that an Ethereum ETF will be approved this year. In his speech at a special event of on-chain data platform CryptoQuant, Seyffart stated that by accepting Ether futures ETFs, the SEC actually considers ETH to be a commodity. “The SEC has acknowledged, even if not explicitly, that Ether is a commodity… They did this by approving Ether futures ETF requests. Of course, Gary Gensler can't talk openly about this. When asked, he will not be able to say anything about whether it is an investment contract or a commodity. But what they do shows that they think it is a commodity.” Seyffart also stated that there is a struggle between the SEC and the CFTC over regulating such assets. “If the SEC accepted Ether as an investment contract and not a commodity, it would declare war not only on the crypto world but also on the CFTC. Therefore, I think an Ether spot ETF will also be approved this year.” It may attract your attention: Latest Situation in the Crypto Market! The SEC must make a final decision on spot Ether applications from VanEck and Hashdex companies, in partnership with ARK-21Shares, by May 2024. Decisions regarding other companies were put on the calendar for the following months. Seyffart also stated that he thinks a spot Bitcoin ETF to be accepted on or before January 10 will bring at least $10 billion to these products within 1 year.