Confidence Prevails: Ethereum ETF Approval Anticipation Grows

The recent buzz surrounding the possible debut of an Ethereum ETF has been making waves in recent weeks, particularly in the aftermath of the introduction of the Spot Bitcoin ETF. Fox Business journalist Eleanor Terrett recently provided perspectives on the diverse opinions and predictions surrounding the approval of the SEC for Ethereum ETFs in a tweet.

However, Despite pessimistic opinions about the SEC’s actions, regulators’ recent approval of the Bitcoin ETF launch has raised expectations for the launch of an ETH ETF. Following the introduction of the Bitcoin ETF, discussions have emerged regarding the possible launches of an Ethereum ETF and an XRP ETF.

An insider familiar with the SEC emphasized the presence of “internal resistance” within the commission against approving the Ethereum ETFs. Currently, the sentiment is a firm rejection of the proposal. Nevertheless, issuers and other sources maintain optimism regarding the potential launch.

Hester Pierce, a Republican commissioner on the SEC, announced that the authorities would give Ethereum ETFs a “regular way” review. Pierce stated that the commission does not want to make the “same mistake of delays” that occurred with Bitcoin ETFs. Pierce had been an advocate for Bitcoin ETFs even before their launch.

Summer Release Hopes For Ethereum ETF

A different informant emphasized their anticipation for the Ethereum ETF’s release by the conclusion of the summer season. They further stated that various factors, such as the Commodity Futures Trading Commission (CFTC) classifying Ethereum as a “commodity” and XRP’s significant legal triumph over the SEC, would deter regulators from categorizing cryptocurrency assets as securities.

Prominent XRP lawyer John Deaton reiterated the statement in a post: “Gary Gensler will face an uphill battle in light of Ripple’s partial victory with XRP not being a security during secondary market transactions.”

According to Terrett’s tweet, the issuer of a Bitcoin Spot ETF, which also manages an Ethereum Spot ETF, has reaffirmed their optimistic outlook regarding the SEC’s endorsement of Ethereum ETFs. They argue that the successful approval and launch of Bitcoin spot ETFs will likely influence the SEC to approve Ethereum Spot ETFs.

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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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