Bloomberg ETF analyst Eric Balchunas said that the lack of meaningful interaction with potential issuers, coupled with the ambiguous regulatory status of Ethereum, means that a spot ETF may not appear until the end of 2025.
Faced with rejection, potential ETF issuers such as BlackRock, Fidelity, or Ark Invest have two options: either sue the SEC, as Grayscale did with the Bitcoin spot ETF, or file again later.
Influencing factors include the US election. If former President Donald Trump wins a second term in the White House, the SEC could face a leadership change. The new chairperson is likely to be more crypto-friendly than Gary Gensler. If there is a new president, you file again and maybe you get approved. Or you sue. Either way, it will take a full year to happen.
Bloomberg analyst: Ethereum ETF may not appear until the end of 2025
2024-05-11 06:39:39
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