Will It Take A Lawsuit For SEC To Permit An Ethereum ETF — 'Crypto Mom' Says, 'That's Not How We're Going To Do Our Approvals'
Portfolio Pulse from Mehab Qureshi
SEC Commissioner Hester Peirce, known as 'Crypto Mom,' indicated that a lawsuit is not necessary for the SEC to approve a spot Ethereum ETF. She emphasized the importance of proper disclosures and preparation for exchange-traded products. Financial firms such as BlackRock and VanEck have pending applications for Ethereum ETFs, with decision deadlines approaching. Bloomberg's Eric Balchunas gives a 70% chance of approval by May. Meanwhile, the SEC delayed its decision on Fidelity's proposed Ethereum ETF to March 5. Ethereum's price is currently down 5.51%.
January 24, 2024 | 5:41 am
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NEUTRAL IMPACT
The reference to the Grayscale court ruling for spot Bitcoin ETFs in the U.S. and the potential parallel with Ethereum ETFs may indirectly affect Bitcoin's market sentiment.
While the article focuses on Ethereum ETFs, the mention of the Grayscale Bitcoin ETF court ruling could lead to speculation about the regulatory environment for cryptocurrencies in general, potentially affecting Bitcoin's price.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
The SEC's stance on not requiring a lawsuit for Ethereum ETF approval and the anticipation of a decision may create a positive sentiment among investors, potentially influencing Ethereum's price.
The news reflects a regulatory environment that may be becoming more favorable towards Ethereum ETFs, which could lead to increased investor interest and a positive impact on Ethereum's price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80