SEC May Deny Spot Ethereum ETF In May

[TomPluz]

Based on some insider views and analysis, the expected approval of ETF for Ethereum will likely be denied in May and in addition nobody can definitely say when will the approval can be, just like what SEC did to Bitcoin ETFs. I can sense a good pattern here since SEC is actually an antagonist to the whole cryptocurrency industry while pretending to be a watchdog and regulator in the name of the US government.

According to this published article: "The US Securities and Exchange Commission (SEC) is expected to deny Spot Ethereum ETF approval next month, according to insiders. Indeed, a report from Reuters notes that the ongoing meetings between issuers and the SEC have dampened expectations, with rejection likely in May."

1. Do you think that eventually approval for Ethereum ETF will happen in either in 2024 the earliest and 2025 the most?

2. Do you think there will almost be the same story here...just like what happened with the Bitcoin ETF...where a court case was necessary to compel SEC for the eventual approval?

[Stompix]

2. Do you think there will almost be the same story here...just like what happened with the Bitcoin ETF...where a court case was necessary to compel SEC for the eventual approval?

The court case in question if you refer to the Graysacle lawsuit will only force the SEC to make a decision based on the same requirements, so it forced them to approve their transition to an ETF fund if other ETF are being approved on the same basis.

There is no lawsuit that can be won that could force the SEC to approve something unless it has in the past approved the same thing, so they can't deny another bitcoin ETF that qualifies just as well as IBIT, but this doesn't mean any court can force them to approve and ETH ETF, no court has authority in this over SEC, it has only authority on a precedented case of action or inaction.

And I don't think ETH has the backing that Bitcoin had.

[Gurujebs]

1. Do you think that eventually approval for Ethereum ETF will happen in either in 2024 the earliest and 2025 the most?

I can't say but it depends on how ethereum community lobby SEC. Those motherfu**** are crook and they understand nothing than money and the fact that the have nothing agains to ethereum but rejecting it, they surely approve it very soon. Bitcoin was once thrown in the dustbin some years back but it has been approved today.

2. Do you think there will almost be the same story here...just like what happened with the Bitcoin ETF...where a court case was necessary to compel SEC for the eventual approval?

If the ETF companies wait and continue to pressure them and they don't comply, I think the have to do it the conventional way of going to the court and because court is transparent and quick when it comes to actions of SEC activities, they don't have no choice but to approved Ethereum ETF quickly.

[Aanuoluwatofunmi]

1. Do you think that eventually approval for Ethereum ETF will happen in either in 2024 the earliest and 2025 the most?

We should by now know that any government implementation or approval will take a little process before they make conclusion on such, they will have to consider some factors and give enough time to think and reason along the implication of such if approved, so don't think they will be that hasty in making approval this year.

2. Do you think there will almost be the same story here...just like what happened with the Bitcoin ETF...where a court case was necessary to compel SEC for the eventual approval?

I don't think so, we cannot compare the conditions involved during that of bitcoin spot ETF approval to that of the request for Ethereum.

[MrSpasybo]

1. Do you think that eventually approval for Ethereum ETF will happen in either in 2024 the earliest and 2025 the most?

2. Do you think there will almost be the same story here...just like what happened with the Bitcoin ETF...where a court case was necessary to compel SEC for the eventual approval?

1. In my personal opinion, I hope that the ETH Spot ETF will be approved in May and become a significant driver for the continued growth of the crypto market and a DeFi summer. However, based on the current situation, Gary Gensler could take an unusual action and reject the ETH Spot ETF for some absurd reason.

2. What I'm interested in is how the SEC would deal with large institutions like BlackRock if it rejects ETH Spot ETFs. At the same time, the SEC would no longer be able to continue refusing to talk about the nature of ETH. That would be a real drama and could cause a slight correction in the crypto market before it grows strongly again at the end of 2024.

[Stompix]

I can't say but it depends on how ethereum community lobby SEC. Those motherfu**** are crook and they understand nothing than money

And you think people lobbying for the ETH ETF are different?
It's a story about the pot and the kettle, why would you lobby for an ETF unless its about money, if they would care about crypto it will all be not your keys not your coins, ETF are as far as decentralization could go, do you think Satoshi would be thrilled about the Bitcoin ETF?
Be honest!

If the ETF companies wait and continue to pressure them and they don't comply, I think the have to do it the conventional way of going to the court and because court is transparent and quick when it comes to actions of SEC activities, they don't have no choice but to approved Ethereum ETF quickly.

Again, no court can force the SEC to approve a new ETF!!!
The SEC is an independent federal agency, no judge can force an agency to take decisions, they can only force the SEC to stand by its own prior decisions.

So let's assume you have a gold ETF, you have the same paperwork as another company that gets rejected the other one is approved, you can go to court and force them to reevaluate your admission. Now let's assume you have a meme ETF, the SEC rejects it, and you CAN'T take the SEC to court of a first refusal!

To put it simply, you can take a police officer to court for handling a ticket if you think you weren't going that fast, but you can't sue the police in court for enforcing that limit, you need to take the road authority or the city council in court for that!

2. What I'm interested in is how the SEC would deal with large institutions like BlackRock if it rejects ETH Spot ETFs. At the same time, the SEC would no longer be able to continue refusing to talk about the nature of ETH.

They can do that as they see fit, as long as they don't approve a single one or let a single chapter of the application close they can go like this till 2100, again it's and independent body that by law has the right to regulate it, no court can force decisions on them unless they attack based on a precedent, and there is no such one!