SEC To Delay Approval Of Spot Ethereum ETFs, TD Cowen Forecasts
Portfolio Pulse from Mehab Qureshi
TD Cowen predicts the SEC will delay approval of spot Ethereum ETFs, citing the agency's likely preference to observe Bitcoin ETFs first. The SEC's cautious stance on crypto regulation, as demonstrated by Chair Gary Gensler, supports this forecast. Major firms like BlackRock and Fidelity have shown interest by applying for Ethereum ETFs, despite the SEC's hesitance and the need to classify Ethereum as a commodity.
January 15, 2024 | 5:18 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
BlackRock has applied for a spot Ethereum ETF, indicating interest in the digital asset. The SEC's delay may postpone potential product offerings and impact investor sentiment.
BlackRock's involvement in applying for an Ethereum ETF suggests a strategic interest in the crypto space. The SEC's delay could defer BlackRock's entry into this market, potentially impacting short-term investor sentiment and delaying revenue from this new product.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Fidelity has shown interest in the digital asset space by applying for a spot Ethereum ETF. The SEC's delay in approval may impact Fidelity's plans and investor expectations.
Fidelity's application for an Ethereum ETF indicates its readiness to expand into the cryptocurrency ETF market. The SEC's expected delay could negatively affect Fidelity's timeline for offering this product, potentially impacting investor interest and short-term strategic goals.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70