The wait for a decision on spot Ethereum ETFs continues, with the U.S. Securities and Exchange Commission (SEC) keeping issuers and investors in the dark. This lack of communication has analysts speculating on potential timelines and raising concerns about potential delays.
High Secrecy Surrounds S-1 Filings
Unlike the more open process with Bitcoin ETFs, the SEC is shrouding the review of spot Ethereum ETF filings in secrecy. Industry experts like Nate Geraci, President of ETF Store, point out the similarities to the 19b-4 form approval process, which lacked transparency. Despite this, Geraci remains optimistic for a potential approval next week, highlighting the lack of justification for further delays.
Echoes of the Bitcoin ETF Debacle
Geraci draws parallels with the situation surrounding spot Bitcoin ETFs, where Commissioner Hester Peirce criticized the SEC’s approach. Her comments, urging a more transparent process, resonate with the current Ethereum ETF silence.
Issuers Left in the Dark
Adding to the anxiety, Bloomberg’s Eric Balchunas notes the complete lack of communication from the SEC after S-1 filings were submitted on Monday. This radio silence leaves issuers confused and frustrated, likened to a “rain delay in baseball” by Balchunas.
Market Buoyant Despite Uncertainty
While the approval timeline remains unclear, market sentiment is positive. Leading figures and major investors, including Ethereum whales, have been accumulating ETH in anticipation of a price surge once the ETF launches. Analyst Thomas Perfumo predicts potential inflows of $1 billion per month into US Ethereum ETFs after approval.
Ethereum Price Poised for Breakout?
With the current price hovering around $3,123, a break above $3,200 could trigger a bull run towards $4,000 and beyond, according to bullish predictions.
Conclusion
The SEC’s silence regarding spot Ethereum ETF approvals is creating a tense wait for investors and issuers. While analysts offer potential timelines, the lack of communication raises concerns about potential delays. Despite the uncertainty, the market remains optimistic, with investors accumulating ETH in anticipation of a significant price increase upon approval.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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