Cryptocurrency journalist Eleanor Terrett recently shared insights on the Securities and Exchange Commission’s (SEC) approval of Ethereum spot ETFs.
The initial optimism surrounding the SEC’s potential approval of Ethereum spot ETFs by May 23 is now diminishing, as indicated by Terrett.
In recent weeks, discussions between companies, asset custodians, and the SEC have been largely one-sided. While companies and custodians are pushing for SEC involvement to initiate the process, officials are not actively engaging, contrasting with their approach to Bitcoin spot ETF applications.
This lack of participation is attributed to the SEC’s discontent with the approval of Bitcoin spot ETFs. SEC chairman Gary Gensler is said to believe that the industry has already been appeased with this approval.
However, not everyone is satisfied with this decision. Influential anti-crypto figures, including Senator Elizabeth Warren, express discontent with the SEC for greenlighting Bitcoin ETFs and oppose a similar approval for Ethereum.
Understanding the SEC staff’s perspective on the matter proves challenging. A source informed Terrett, “We’re not sure anyone really knows what’s going on in his head. But if they’re going to have a chance, they’re going to have to start working soon.”
With just over two months remaining until May 23, the window for approving Ethereum spot ETFs is closing.