The cryptocurrency community is experiencing moments of uncertainty regarding the approval of Ethereum ETFs in the United States. The Securities and Exchange Commission (SEC), the market regulator in the US, remains silent on applications for Ethereum ETFs, generating doubts and speculation among investors and sector analysts.
Jan van Eck, CEO of VanEck, one of the companies that applied for approval of an Ethereum ETF, shared his concerns during an interview with CNBC. We are concerned about the chances of approval, especially for May,” he said, highlighting the lack of any feedback from the SEC.
Eric Balchunas, senior ETF analyst at Bloomberg, also reflected this concern by adjusting approval expectations to just 35%. According to Balchunas, pessimism is a direct consequence of the SEC's continued silence on the issue, an indication that the chances of positive progress are low.
Currently, in addition to VanEck's proposal, there are seven other proposals awaiting feedback from the SEC. The lack of communication and updates in this process has led to a scenario of stagnation that contrasts sharply with the previous success of Bitcoin ETFs, which were approved and helped to consolidate Bitcoin as a viable investment.
Jean-Marie Mognetti, CEO of CoinShares, also expressed a similar view to his colleagues, suggesting that “approvals are unlikely to be available anytime soon.” This view is echoed by market analyst James Seyffart, who sees the SEC's silence as a negative sign for the approval process for Ethereum ETFs.
Despite the challenges faced by Ethereum ETFs, the cryptocurrency market, overall, continues to expand, showing that there are still significant investment and diversification opportunities in the digital asset space.
The lack of interactions with the SEC and the impasse in approvals puts investors in a position of anticipation as they seek to understand the next steps of both the SEC and the development of the Ethereum ETF market in the United States.
At the time of publication, the ETH price it was quoted at US$3.059,53 with a drop of 5,5% in the last 24 hours.
