ETH Spot ETF Launch Hindered? Insider Claims SEC Internally Firmly Opposed.

According to Fox Business reporter Eleanor Terrett, ETF issuers, asset management firms, and the SEC have different opinions regarding Ethereum spot ETFs.

Optimists predict that the SEC will follow the path of approving Bitcoin spot ETFs. Terrett mentioned that an issuer of Bitcoin spot ETFs, who is also an applicant for ETH spot ETFs, believes that the successful listing of Bitcoin spot ETFs will encourage the SEC to approve ETH spot ETFs.

Another report suggests that since Ethereum futures ETFs have been approved for listing and BlackRock has maintained a good track record in ETF applications, they believe that ETH spot ETFs could be listed by the end of the third quarter of this year.

Terrett quotes an insider who claims that the current attitude of the SEC towards ETH spot ETFs is “firmly opposed,” and there is internal resistance to it.

However, SEC Commissioner Hester Peirce, who has always been supportive of the cryptocurrency industry, gave a completely opposite statement to the media outlet Coinage this morning. She stated that the SEC had previously delayed the listing of ETH futures ETFs and does not want to repeat the same mistake. The SEC needs to review these products in a regular manner, just like similar products.

Good news: The SEC has recognized ETH as a commodity. SEC Chairman Gary Gensler has consistently maintained that only Bitcoin falls under the category of commodities. However, an anonymous source pointed out that the SEC has now recognized ETH as a commodity. The source also mentioned the XRP lawsuit, where XRP trading on the secondary market was not considered the sale of securities by the judge. All of this makes the future securities determination by Gary Gensler more difficult.

ETF
SEC
XRP
Ethereum