VanEck CEO Doubts May Approval for Ethereum ETFs Amid SEC Silence
- VanEck CEO says it's unlikely that ether ETFs will receive SEC approval by the May deadline due to a lack of response to filings.
- The SEC recently opened a 21-day comment window for spot Ethereum ETF proposals by Grayscale, Fidelity, & Bitwise.
Lately, Ethereum has garnered significant attention and speculation about a potential spot Ethereum exchange-traded fund (ETF). However, the circumstances don't seem to be in Ethereum’s favor.
The CEO of VanEck, Jan van Eck on CoinDesk's "Markets Daily" said that it's unlikely for ether ETFs to receive approval by their May deadline.
VanEck CEO Jan van Eck said that the Ethereum ETF is unlikely to be approved before the May deadline because unlike the approval process for Bitcoin ETFs, the U.S. SEC has not responded to documents submitted by potential issuers. https://t.co/mBmfv53bCM
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He also explained that, in contrast to the bitcoin ETF approval process, the U.S. Securities and Exchange Commission (SEC) has not responded to prospective issuers' filings.
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"We've filed our S1 and we haven't heard anything. So that's kind of a sign. It won't happen without getting the disclosure documents in order," Jan Van Eck said.
Additionally, he also pointed out that the cryptocurrency industry should focus more on transaction fees and not so much on Bitcoin and Ethereum or their related exchange-traded funds.
Recently, the SEC opened a 21-day comment window for the spot Ethereum exchange-traded fund (ETF) proposals by Grayscale Investments, Fidelity, and Bitwise.
Edited by Harshajit Sarmah
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