Grayscale executive sees path to Ethereum ETF approval despite SEC silence
Grayscale govt sees path to Ethereum ETF approval despite SEC silence Grayscale govt sees path to Ethereum ETF approval despite SEC silence
Grayscale's CLO current that points resolved for the interval of Bitcoin ETF approval job is suitable to Ethereum ETFs.
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Craig Salm, the Chief Factual Officer at Grayscale, suggested that the US SEC’s “perceived lack of engagement” with build Ethereum alternate-traded funds (ETFs) candidates wouldn’t be a decisive element that would possibly hinder the prospects of such merchandise.
In a March 25 post on X (formerly Twitter), Salm said the Ethereum ETFs would possibly be permitted which ability that of “the SEC already has engaged” with the issuers for the interval of the utility job for a build Bitcoin ETF.
Why the SEC would possibly furthermore approve Ethereum ETFs
Based on him, for the interval of the approval of build Bitcoin ETFs, the monetary regulator worked out key points, including advent and redemption processes, cash versus in-form transactions, and custody concerns. He identified that these alternate choices prepare to Ethereum due to its similarities with Bitcoin.
He remarked:
“All of these points were figured out and are identical when comparing build Bitcoin to Ethereum ETFs. The finest difference is terribly than the ETF conserving bitcoin, it holds ether. So in many suggestions, the SEC already has engaged and issuers merely earn less to earn interaction on this time.”
Furthermore, Salm reiterated the arguments made by Paul Grewal, Coinbase’s chief compatible officer, referring to the monetary regulator’s want to approve a build ETH ETF. Salm highlighted the consistent and robust correlation between ETH futures and build prices, which reinforces the rationale for approval.
He added:
“Investors prefer and deserve derive admission to to Ethereum in the build of a build Ethereum ETF and Grayscale believes the case is suitable as proper as it modified into once for build Bitcoin ETFs.”
Hopes unlit for Ethereum ETF
In most up to the moment weeks, there has been growing skepticism referring to the different of regulatory approval for Ethereum ETFs.
The monetary regulator has postponed the approval job for several issuers, prompting skepticism amongst market analysts. These delays, coupled with the minimal regulatory say surrounding the applications, earn dampened community optimism about the prospects of an Ethereum ETF.
Furthermore, reports suggest that the SEC is investigating Ethereum’s regulatory classification as both a security or a commodity. This pattern adds further uncertainty to the approval prospects.
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