Spot Ethereum ETF Not Coming ‘Anytime Soon’, Mark Yusko Says
According to Mark Yusko, CEO and co-founder of Morgan Creek Capital, the US Securities and Exchange Commission (SEC)'s recent approval of Ethereum ETFs this year is optimistic, but unlikely to approve the position.
In a recent interview, Bloomberg ETF analyst Eric Balchunas said there is a 70% chance that the Ethereum ETF will be approved in May. But Yusko disagrees.
“I'd say less than 50/50,” he said in an exclusive interview with Cointelegraph.
Despite the recent acceptance of the Bitcoin ETF, it argues that the SEC has a widespread hostility to cryptocurrencies, as suggested by the head of the agency, Gary Gensler, in a message on the day of its approval.
Another hurdle, according to Roe Yusko, is that the SEC may still consider Ether a security, much like Bitcoin is considered a commodity.
Shifting topics to Bitcoin, Yusco argues that spot ETF approval would significantly reduce BTC's volatility and, as a result, its potential. According to Yusko, investors should welcome it as it is a sign of the property's maturity.
“It wasn't created for day trading,” Yusko said of Bitcoin. “It was invented so that you and I could exchange value without asking permission.”
To learn more about the long-term impact of spot Bitcoin ETF adoption, watch the full interview on our YouTube channel and don't forget to subscribe!
