Ether ETFs Likely Won't Get Approved in May, Bloomberg Analyst Predicts
Summary
The chances of spot ether exchange-traded funds (ETFs) getting approved in May have decreased, according to Bloomberg Intelligence ETF analyst James Seyffart. The U.S. Securities and Exchange Commission (SEC) has shown a lack of engagement with potential issuers of the products. Seyffart predicts these will be denied on May 23rd. Previously, Seyffart and his colleague Eric Balchunas had estimated a 35% chance of approval in May. The SEC has previously postponed a decision on a spot ether ETF but must make a decision by May 23, the final deadline for one of the applicants. Currently, seven issuers including BlackRock, Fidelity, Invesco with Galaxy, Grayscale, VanEck, 21Shares with Ark, and Hashdex are hoping to launch an ether fund.
