ETF expert says there are chances that the SEC may approve Ethereum spot ETFs but there is a catch 

Nate Geraci said that there are huge chances that we will see the American securities regulatory body green signal the approval of Ethereum spot ETF applications but with some significant delays.

At present nearly 8 Ethereum spot ETF applications are in the queue, waiting for regulatory approval from the United States Securities and Exchange Commission (SEC). Already the majority of the ETF experts claimed that the SEC body may not approve these proposed applications citing several reasons. 

As we know the US SEC will give its decision on ETH spot ETF applications this week and already the majority of the crypto people are ready to see rejection.

On 20 May 2024, ETF store president Nate Geraci explained that the US SEC will give its decision on an Ethereum spot ETF this week and for the approval the SEC body needs to approve both a 19b-4 (change in trading rules) and an S-1 (registration statement) for the ETF to launch. 

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Nate said that technically it is possible that the SEC would approve 19b-4s and then slow down S-1 approvals (especially given the lack of participation).

Indirectly, the ETF store president said that the SEC may take those types of actions in this matter which will cause delay, instead of direct rejection of these applications.

SEC decision deadline this week on spot eth ETFs…
 
SEC must approve both the 19b-4s (exchange rule changes) & S-1s (registration statements) for ETFs to launch.
 
Technically possible for SEC to approve 19b-4s & then slow play S-1s (esp given reported lack of engagement here).

— Nate Geraci (@NateGeraci) May 19, 2024

So here we can say that the crypto community will not see the direct rejection of ETH spot ETF applications, instead see delays & delays, which will hurt the ETH investors’ sentiment on a small scale. 

The majority of the crypto experts claimed that the SEC’s decision on these proposed ETH ETF products is going to have zero impact on the market.

The SEC's decision on VanEck's spot Ethereum ETF application is due by Wednesday, May 23. This ruling will be closely followed by the deadline for the Ark 21Shares spot ETH ETF application on Thursday, May 24. #ETH #CryptoNews Sentiment Result : Neutral

— Crypto Talkies – Sentiment Analysis Tool (@crypto_talkies) May 20, 2024

Ethereum price action 

The current trade price of the Ethereum (ETH) coin is $3,111 & this trade price is 1.35% higher over the last 24 hours. 

Read also: Cointracking platform Coingecko notes Solana is 46 times faster than Ethereum

ETF expert says there are chances that the SEC may approve Ethereum spot ETFs but there is a catch 

 

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