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- James Seyffart reinforces his pessimistic ideas on the SEC’s Ethereum ETF approval.
- The analyst factors out the SEC’s extended silence on the matter as an indication of the potential denial of the ETF approval.
- In a earlier submit, Seyffart posited that the SEC would reject the purposes by Might.
James Seyffart, an ETF Analysis Analyst at Bloomberg, reiterated his pessimistic beliefs on the Securities and Change Fee’s (SEC) Ethereum ETF approval. Seyffart stays cynical in regards to the ETF approval because of the SEC’s extended silence on the matter.
The analyst’s latest X submit got here in response to a number of posts to which he was tagged. These posts shared insights on the SEC’s latest transfer that concerned a discover relating to Cboe BZX Change’s proposal to record an Ether-based exchange-traded belief. In a November 2023 submitting with the SEC, the alternate proposed a rule change to record and commerce shares of the Constancy Ethereum Fund.
Nonetheless, Seyffart, who stays hopeless in regards to the Ethereum ETF launch, commented that the regulator’s latest transfer doesn’t signify something substantial. He cited,
“I’ve been tagged on this tweet and bunch of others relating to the 19b-4 paperwork filed for the Ethereum ETFs as we speak. Nothing within the filings alerts to me that something has modified. Silence from the SEC isn’t factor right here.”
In a latest revelation, Seyffart commented that the SEC is almost certainly to disclaim the ETF purposes by Might 2024, a month which most beforehand believed to witness the ETF approval. Although Seyffart additionally beforehand held optimistic beliefs relating to the SEC’s optimistic method, in his latest submit, he introduced that his beliefs waned.
Equally, Eric Balchunas, one other outstanding determine in ETF analytics, opined on the disappearing optimistic sentiments on the SEC’s Ethereum ETF approval. He acknowledged that the percentages of the Spot Ethereum ETF being authorised by the SEC stay low and declined to 35%.
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