ETF Store President: SEC May Not Approval Ethereum ETF in May

According to U.Today, ETF Store President Nate Geraci noted that the general consensus is that the SEC is unlikely to approve spot Ethereum exchange-traded funds (ETFs) in May due to insufficient interaction with issuers in the past few weeks. ). This is in stark contrast to the frequent “back and forth” discussions observed prior to the approval of multiple Bitcoin ETFs. There hasn’t been much feedback from the SEC on the Ethereum ETF, so the likelihood of approval now is very slim. However, if the SEC rejects the application for a series of Ethereum ETFs, it may face another lawsuit.

While futures-based ETFs tracking the value of the largest altcoins have attracted less attention, Geraci believes an Ethereum ETF is still a big deal given the surprising success of the Bitcoin ETF. Ethereum’s $379 billion market capitalization makes it a “big enough thing” for analysts and issuers to pay attention to.