In a recent interview with CNBC, VanEck CEO Jan van Eck expressed skepticism regarding the approval of spot Ether exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC) in May.
VanEck, along with Cathie Wood’s ARK Invest, was among the first to file for spot Ether ETFs in the United States. However, van Eck believes their application will “probably be rejected” by the SEC.
The SEC’s lack of action on the pending applications for spot Ether ETFs has raised concerns among industry experts. Despite the looming decision dates in May, the regulator has remained silent.
Analyst Eric Balchunas has revised the odds of spot Ether ETF approval down to 35% due to the SEC’s silence and lack of feedback on the filings.
Fellow analyst James Seyffart also sees the absence of comments or interactions from the SEC as a negative sign for the pending applications.
Despite the uncertainty surrounding Ether ETFs, VanEck’s spot Bitcoin ETF, known as HODL, has seen significant inflows since its launch in mid-January, highlighting growing investor interest in crypto assets.
The outlook for spot Ether ETF approval in May appears grim, with regulatory uncertainty and SEC inaction casting doubt on the likelihood of success for pending applications. Meanwhile, VanEck’s Bitcoin ETF continues to attract investor attention amidst the evolving crypto landscape.
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