The U.S. Securities and Exchange Commission (SEC) to deny the much-anticipated approval of spot Ethereum ETF, as per sources familiar with the matter. The SEC’s mindset toward approving spot Ether exchange-traded funds was never clear as the SEC tries to classify Ethereum (ETH) as security and delays its decision on spot Ether ETF for several issuers.
US SEC to Refuse Spot Ether ETF Approval
Issuers of spot Ether ETFs and other firms expect denial of their applications next month by the U.S. SEC after bad meetings with the securities regulator in recent week, reported Reuters on April 25.
BlackRock, Grayscale, VanEck, Ark Invest and other issuers have filed with the SEC to approve and list ETF tracking the spot prices of Ether (ETH), similar to spot Bitcoin ETFs. VanEck and Ark Invest are first in line for the SEC’s decision on May 23 and May 24, respectively.
According to people familiar with the matter, the SEC and its staff have shown no interest in the spot Ether ETF and its po
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