Ether’s EFF verdict: Gensler remains silent
On February 14, United States Securities and Exchange Commission Chairman Gary Gensler didn't give much away about space ether (ETH) exchange-traded funds (ETFs) during a Squawk Box interview with CNBC.
When asked if and when a decision would be made, Gensler simply indicated that the process would be the same as for Bitcoin (BTC) ETFs, giving no indication of the current situation or possible timeframe.
The securities agency delayed its approval decision on the Invesco Galaxy Ether ETF on February 6. The SEC also delayed its decision on Invesco's ETF application in December.
The SEC has postponed decisions on other Ether ETF applications, including filings from Greyscale, Fidelity and BlackRock, the world's largest asset management firm. Other firms competing for ETF approvals include VanEck and Hashdex.
Franklin Templeton is among the latest Wall Street firms to file an S1 filing with the SpaceEther ETF on February 12. The $1.5 trillion asset management giant has signaled its desire to use ETF's ETH to generate some additional passive income. ARK 21 shares updated file.
Related: Bitcoin ETFs Create Optimism Around Ether ETFs, But Is It True?
Will SpotEther ETF Be Approved in 2024?
SEC on VanEck's application on May 23rd, ARK's 21Shares on May 24th, Hashdex's on May 30th, Grayscale's on June 18th and Invesco's on July 5th. Applications for Fidelity and BlackRock are due August 3 and August 7. .
Bloomberg ETF analyst James Seifert A simultaneous decision on all outstanding Ether ETF applications is expected on May 23rd, similar to when the SEC approved all Bitcoin ETFs on January 10th.
However, Bloomberg ETF analyst Eric Balchunas recently downgraded his spot ether ETF approval rating from 70% to 60% in 2024 (ex: Twitter):
“If Gensler really wanted to – he could kick the can down the road. There was no more shooting for Bitcoin.” [ETF applications]He said.
As for Bitcoin ETFs, BlackRock's iShares Bitcoin Trust (IBIT) collected 105,280 BTC under management on Feb. 13, making it the first position in the United States to pass the 100,000-BTC mark.
