{"id":12408,"date":"2024-04-10T10:00:49","date_gmt":"2024-04-10T07:00:49","guid":{"rendered":"https:\/\/forklog.com\/en\/vaneck-and-coinshares-ceos-doubt-imminent-approval-of-ethereum-etf\/"},"modified":"2024-04-10T10:00:49","modified_gmt":"2024-04-10T07:00:49","slug":"vaneck-and-coinshares-ceos-doubt-imminent-approval-of-ethereum-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/vaneck-and-coinshares-ceos-doubt-imminent-approval-of-ethereum-etf\/","title":{"rendered":"VanEck and CoinShares CEOs Doubt Imminent Approval of Ethereum ETF"},"content":{"rendered":"<p>Executives from companies that have received approval from the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin ETF are pessimistic about the emergence of an Ethereum-based instrument, reports <a href=\"https:\/\/www.cnbc.com\/2024\/04\/09\/bitcoin-etf-issuers-sec-wont-approve-ether-eth-exchange-traded-fund-.html\">CNBC<\/a>.<\/p>\n<p>VanEck CEO Jan van Eck anticipates that the agency will deny the launch of the product in May, when the first deadline for a decision arrives. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The [review] process is such that regulators provide comments on your application, and this happened weeks before the Bitcoin ETF appeared. As for Ethereum now, the number of pings [from the SEC] is decreasing,&#8221; he noted. <\/p>\n<\/blockquote>\n<p>CoinShares CEO Jean-Marie Mognetti is monitoring spot Ethereum exchange-traded funds but also rates the chances of product approval this year as low. According to him, it is quite challenging to get the green light from the SEC for a &#8220;specific product&#8221; with a Proof-of-Stake consensus algorithm. <\/p>\n<p>He also noted that CoinShares joined the race for a Bitcoin ETF only three months before approval and &#8220;managed to qualify at the last minute.&#8221; However, the company has not yet applied for an Ethereum-based exchange-traded fund.<\/p>\n<p>Earlier, Bloomberg analyst Eric Balchunas <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-analysts-lower-odds-of-spot-ethereum-etf-approval-to-35\">halved the probability<\/a> of a spot ETH-ETF approval in May\u2014from 70% to 35%. Specialists from market maker GSR also <a href=\"https:\/\/u1f987.com\/en\/news\/gsr-lowers-may-approval-odds-for-ethereum-etf-to-20\">estimated the chances at 20%<\/a>.<\/p>\n<p>In March, U.S. senators <a href=\"https:\/\/u1f987.com\/en\/news\/us-senators-oppose-sec-approval-of-new-crypto-etfs\">urged<\/a> the Commission not to approve additional cryptocurrency exchange-traded funds, citing the &#8220;enormous risks&#8221; of these instruments. <\/p>\n<p>JPMorgan analyst Nikolaos Panigirtzoglou remains optimistic, believing that the regulator will eventually approve spot ETFs based on Ethereum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Executives from companies that have received approval from the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin ETF are pessimistic about the emergence of an Ethereum-based instrument, reports CNBC. VanEck CEO Jan van Eck anticipates that the agency will deny the launch of the product in May, when the first deadline for a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12407,"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":[1191,569,46,783],"class_list":["post-12408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinshares","tag-etf","tag-ethereum","tag-vaneck"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12408","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=12408"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12407"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}