Leading ETF expert Eric Balchunas believes that there is still little chance that Ethereum exchange-traded funds (ETFs) will be authorised in May.
A recent Barron’s story claims that the SEC spoke with a number of ETF producers on Ether ETFs. But the regulator hasn’t yet given these businesses the critical input they require.
Earlier this year, the SEC was in the midst of a consent “back-and-forth” before approving Bitcoin ETFs. However, a new report by Barron’s indicates that it is unwilling to actively interact with ETF issuers this time around, with conversations being primarily one-sided.
For the approval process to proceed, the SEC must comment on a large number of Ethereum ETF applications. Based on the new reporting, they have, however, so far declined to provide any kind of input, not even in private meetings. Balchunas said, “Violence is silence.”
The SEC delayed making a judgement on many Ethereum ETF registrations in March, including the one from the massive financial firm BlackRock.
According to U.Today, the Bloomberg ETF expert had previously calculated that there was only a 25% chance that an Ethereum ETF would be authorised in May.
The regulator eventually requested feedback on BlackRock’s and other companies’ proposals last week.
Proposals for Ethereum ETFs are encountering a number of obstacles, including congressional pressure and increased attention to the largest altcoin’s regulatory position.
