A crypto analyst predicts the wait for a spot Ethereum ETF in the US will drag on. James Seyffart of Bloomberg Intelligence sees a low chance of approval by the Securities and Exchange Commission (SEC) this year.
In a recent interview, Seyffart discussed two main possibilities:
- The SEC could declare Ethereum a security, triggering lengthy legal battles. This seems unlikely due to potential conflicts with other regulators.
- More probable, according to Seyffart, is the SEC delaying approvals with justifications that may not be entirely clear. He expects rejections for at least two Ethereum ETF applications by May 23rd, followed by drawn-out explanations from the SEC.
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This delay could postpone a potential boom for Ethereum, similar to what Bitcoin experienced with spot ETF approvals earlier in 2024. Seyffart believes a final decision on Ethereum ETFs might not come until 2025.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. Before making any investment decisions, readers are encouraged to conduct their own research and consult with a qualified financial advisor.
