Grayscale Chief Authorized Officer Craig Salm mentioned that the U.S. SEC’s “lack of participation” in spot Ethereum exchange-traded fund (ETF) candidates is not going to be a decisive issue hindering the prospects of such merchandise.
on March 25 postal Salm mentioned on X (previously Twitter) that the Ethereum ETF might be accredited as a result of “the SEC has have Issuers had been approached through the software course of for the spot Bitcoin ETF.
Why the SEC might approve an Ethereum ETF
In line with him, through the approval of the spot Bitcoin ETF, monetary regulators addressed key points, together with the creation and redemption course of, money versus bodily transactions, and custody points. He famous that these options apply to Ethereum due to its similarities to Bitcoin.
He mentioned:
“When evaluating spot Bitcoin to Ethereum ETFs, all of those points are addressed and equivalent. The one distinction is that as a substitute of holding Bitcoin, the ETF holds Ethereum. So, in some ways, the U.S. The SEC has been concerned, and issuers have been much less concerned this time.”
Moreover, Salm reiterated Coinbase Chief Authorized Officer Paul Grewal’s argument that monetary regulators have to approve a spot ETH ETF. Salm highlighted the constant and robust correlation between ETH futures and spot costs, which strengthens the case for approval.
He added:
“Buyers need and deserve entry to Ethereum within the type of a spot Ethereum ETF, and Grayscale believes the case is as robust as a spot Bitcoin ETF.”
Little hope for Ethereum ETFs
Doubts have grown in latest weeks in regards to the probability of an Ethereum ETF receiving regulatory approval.
Monetary regulators have delayed approval processes for a number of issuers, sparking skepticism amongst market analysts. These delays, coupled with the dearth of regulatory exercise surrounding the app, have dampened group optimism in regards to the prospects for an Ethereum ETF.
Moreover, reviews point out that the U.S. Securities and Alternate Fee is investigating Ethereum’s regulatory classification as a safety or commodity. This improvement additional will increase uncertainty over the prospects for approval.
The submit Grayscale government sees path to Ethereum ETF approval regardless of SEC silence appeared first on CryptoSlate.
