Bloomberg ETF Analyst: US SEC Requests Decision on Ethereum ETF According to the Freedom of Information Act

In an interview with KITCO, Bloomberg ETF analyst James Seyffart called for a Freedom of Information Act (FOIA) request regarding the U.S. Securities and Exchange Commission's (SEC) approval of a spot Ethereum ETF. Seyffart suggested that public requests should search emails, phone calls, and anyone who has spoken with SEC Chairman Gary Gensler to determine what happened during the SEC decision-making process. Due to the rapid shift in the agency's stance, there may be unused rejection orders.

Seyffart stated that the SEC approved a spot Ethereum ETF through an authorizing body, which is common practice but an unusual choice for current issues. The authorization also means unclear voting records. This choice was politically motivated unless someone comes forward to show me concrete evidence... otherwise it’s all political. The main theory is that a member of Biden administration called SEC Chairman Gary Gensler and influenced the agency's decision.