{"id":11002,"date":"2024-02-25T14:13:30","date_gmt":"2024-02-25T12:13:30","guid":{"rendered":"https:\/\/forklog.com\/en\/lawyer-predicts-timeline-for-approval-of-spot-ethereum-etf\/"},"modified":"2024-02-25T14:13:30","modified_gmt":"2024-02-25T12:13:30","slug":"lawyer-predicts-timeline-for-approval-of-spot-ethereum-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/lawyer-predicts-timeline-for-approval-of-spot-ethereum-etf\/","title":{"rendered":"Lawyer Predicts Timeline for Approval of Spot Ethereum ETF"},"content":{"rendered":"<p>If the U.S. Securities and Exchange Commission (SEC) does not approve a spot Ethereum ETF by May 2024, it is likely to do so by mid-2025, according to lawyer Scott Johnsson.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">SEC simultaneously issued initial comment letters on issuers\u2019 BTC spot ETF reg statements on 9\/29\/2023. We saw amended S-1s show up about 2 weeks later\u2026 so about 90 days ahead of the Jan 10 deadline. We\u2019re now 90 days out from May 23rd deadline for ETH spot ETFs. <a href=\"https:\/\/t.co\/BnVWLTIcZz\">pic.twitter.com\/BnVWLTIcZz<\/a><\/p>\n<p>\u2014 Scott Johnsson (@SGJohnsson) <a href=\"https:\/\/twitter.com\/SGJohnsson\/status\/1761142145849672065?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cOn September 29, 2023, the SEC simultaneously published initial comment letters on applications for spot Bitcoin ETFs. Amended S-1 forms appeared about two weeks later, approximately 90 days before the January 10, 2024 deadline. We are now 90 days away from the May 23 deadline for spot Ethereum ETFs,\u201d he wrote.<\/cite><\/p><\/blockquote>\n<p>However, according to the lawyer, there is sufficient reason to believe that the SEC might deviate from its previous schedule and delay the S-1 comment process until after the approval of 19b-4.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Confidence relatively high that if not May 2024, then by mid 2025 it should come.<\/p>\n<p>\u2014 Scott Johnsson (@SGJohnsson) <a href=\"https:\/\/twitter.com\/SGJohnsson\/status\/1761142150526349737?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cRelatively high confidence that if not in May 2024, then by mid-2025 it should happen,\u201d Johnsson added.<\/cite><\/p><\/blockquote>\n<p>Bloomberg exchange analyst James Seyffart stated that the SEC does not need as much time to process Ethereum ETF applications as it did with the first cryptocurrency, since a significant portion of the documents can be based on the Bitcoin ETF.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I agree. It should be quicker this time around, which may explain lack of engagement right now. And it assumes the SEC will even comment ahead of 19b-4 approval (which is not a guarantee).<\/p>\n<p>\u2014 Scott Johnsson (@SGJohnsson) <a href=\"https:\/\/twitter.com\/SGJohnsson\/status\/1761148928919994460?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cI agree. The process should be quicker this time, which explains the lack of engagement right now,\u201d Johnsson replied.<\/cite><\/p><\/blockquote>\n<p>Keyrock CEO Kevin de Patoul, in an interview with <a href=\"https:\/\/cointelegraph.com\/news\/ether-etf-approval-insights-keyrock-ceo\">Cointelegraph<\/a>, assessed the chances of a spot Ethereum ETF being approved in the U.S. as above 50%.<\/p>\n<p>In his view, one of the main obstacles is SEC Chairman Gary Gensler, who might classify the second-largest cryptocurrency by market capitalization as a security.<\/p>\n<p>The expert noted that Ethereum&#8217;s transition to the Proof-of-Stake consensus algorithm in September 2022 makes the asset more akin to a security from the regulator&#8217;s perspective.<\/p>\n<p>In February, Seyffart wagered 4 ETH (about $12,000 at the time of writing) that the SEC would not approve spot ETH ETFs in March. However, he refrained from betting against this event by the end of 2024.<\/p>\n<p>Previously, FOX Business <a href=\"https:\/\/u1f987.com\/en\/news\/hester-peirce-advocates-for-spot-ethereum-etf-approval-without-court-ruling\">predicted<\/a> the registration of an Ethereum ETF by May. Seyffart <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-predicts-possible-approval-timeline-for-ethereum-etf\">estimated<\/a> this probability at 60%, while his colleague Eric Balchunas was slightly more optimistic at <a href=\"https:\/\/u1f987.com\/en\/news\/morgan-creek-ceo-skeptical-of-imminent-approval-for-spot-ethereum-etfs\">70%<\/a>. Morgan Creek Capital CEO Mark Yusko was more pessimistic, suggesting a 50\/50 chance.<\/p>\n<p>Analysts from <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-dips-below-43000-amid-etf-criticism\">JPMorgan<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-doubt-imminent-approval-of-spot-ethereum-etfs\">TD Cowen<\/a> also expressed doubts about the imminent approval of these products.<\/p>\n<p>Experts from Standard Chartered <a href=\"https:\/\/u1f987.com\/en\/news\/standard-chartered-predicts-sec-approval-of-spot-ethereum-etf-in-may\">suggested<\/a> that the SEC might register spot Ethereum funds by May 23, with the cryptocurrency&#8217;s price reaching $4,000 by then.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If the U.S. Securities and Exchange Commission (SEC) does not approve a spot Ethereum ETF by May 2024, it is likely to do so by mid-2025, according to lawyer Scott Johnsson. SEC simultaneously issued initial comment letters on issuers\u2019 BTC spot ETF reg statements on 9\/29\/2023. We saw amended S-1s show up about 2 weeks [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,46,1150,1138],"class_list":["post-11002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-ethereum","tag-news-plus","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11002"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11001"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}