Bittime - On April 2, the United States Securities and Exchange Commission (SEC) submitted a request for public comment regarding proposed rule changes that would allow the listing and trading of shares of three Ether (ETH) exchange-traded funds, or ETFs, on exchanges.
Proposed Ether ETF
Three major asset managers, namely Bitwise, Fidelity, and Grayscale, have submitted Ether ETF proposals for review by the SEC. A request for public comment was issued to see the public's views on the Ether ETF proposals from these three asset managers.
Many expect a final SEC decision regarding Ether ETFs in May. It is anticipated that this decision will include approval or denial of the application from VanEck, who is scheduled to submit his application on May 23.
However, a pessimistic view emerged along with the SEC's silence in dealing with this request.
Check Current Crypto Market:
James Seyffart and other Analysts Comment
James Seyffart, an ETF research analyst at Bloomberg, expressed his skeptical view of the prospects for an Ether ETF.
He highlighted that the request for public comment regarding the Ether ETF proposal was not a positive indication, indicating that this process is a standard part of the SEC's evaluation of any ETF application.
Also Read: Bitcoin and Ethereum Price Drop Triggered by Grayscale ETF Outflow
This pessimistic view is also shared by other analysts who state that the SEC may not take the same decision they took on Bitcoin ETFs in January.
Also Read How to Buy Crypto:
Impact of SEC Investigation on Ethereum Foundation
The SEC's reported investigation into the Ethereum Foundation is also a factor that may influence the commission's decision regarding Ether ETFs.
The potential classification of digital assets as securities may influence this decision. Nonetheless, several parties, including blockfirm Consensys, have sent comment letters to the SEC asserting that the regulator's concerns about potential fraud and market manipulation are unfounded.
Thus, expectations and speculation continue ahead of the SEC's decision on Ether ETFs, while the market continues to monitor these developments closely.
Check Today's Crypto Prices:
How to Buy Crypto With Bittime
You can buy and sell crypto assets in an easy and safe way through more . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to purchase crypto assets at More , make sure you have registered and completed identity verification. Apart from that, make sure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can buy crypto assets in the application.
Learn How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SUN) and other cryptos to find out current crypto market trends in real-time on Bittime.
Also Read:
Bitcoin and Ethereum Price Drop Triggered by Grayscale ETF Outflows
Ethereum in Turmoil: Analysis of Price and Recent Market Trends
The Future of Ethereum: Risks and Opportunities of Blockchain Recalculation
Token Unlock Week: Potential Turning Point for ARB, AXS, and More
DISCLAIMER: This article is informative and does not constitute an offer or solicitation to sell or buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in crypto asset exchange rate fluctuations.
Comments
0 comments
Please sign in to leave a comment.