Spot Ethereum ETFs Won’t Need A Lawsuit To Be Approved
SEC Commissioner Hester “Crypto Mom” Peirce has stated that a lawsuit will not be necessary to approve spot Ether exchange-traded fund (ETF) applications.
She cited the Grayscale court ruling that preceded the approval of spot Bitcoin ETFs in the US as a precedent for the SEC’s approach. Peirce acknowledged that the facts and circumstances vary greatly with each ETF application, and that hearing from a court that the approach was wrong will certainly stick with them.
BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, and Hashdex are among the spot Ether ETF applicants vying for SEC approval. The SEC must decide on VanEck’s application by May 23, ARK 21Shares by May 24, Hashdex by May 30, Grayscale by June 18, and Invesco by July 5. Fidelity and BlackRock’s applications must be decided by August 3 and August 7.
Balchunas recently told Cointelegraph that it seems likely that Ether ETFs now have a straight shot at approval, and it was difficult to imagine a scenario where spot Bitcoin ETFs are approved while spot Ether ETFs are not.
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