{"id":279859,"date":"2024-04-09T02:57:29","date_gmt":"2024-04-08T21:27:29","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=279859"},"modified":"2024-04-09T02:57:29","modified_gmt":"2024-04-08T21:27:29","slug":"applicants-meet-sec-rejection-fear-remain-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/applicants-meet-sec-rejection-fear-remain-crypto-news\/","title":{"rendered":"Applicants Meet SEC, Rejection Fear Remain – Crypto News"},"content":{"rendered":"

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Nate Geraci, the president of The ETF Store has revealed that a handful of spot Ethereum ETF filers have met with the United States Securities and Exchange Commission (SEC) to discuss the modalities of the proposed offering.\u00a0<\/span><\/p>\n

Uncertainty Looms Amid Approaching Spot Ethereum ETF Deadline<\/strong><\/h2>\n

Geraci highlighted a post from Senior Bloomberg writer Joe Light who stated that the spot Ethereum ETF applicants\u2019 discussions with the SEC have been largely one-sided.\u00a0<\/span><\/p>\n

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It has become general knowledge that the agency has failed to provide the \u201ccritical\u201d feedback necessary for these filers to finalize their products. Hence, there are fears that the May 23 deadline for a Ethereum ETF approval may not be a reality.<\/span><\/p>\n

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Several ETF issuers have met w\/ SEC re: spot ether ETF, but according to Barron\u2019s\u2026<\/p>\n

\u201cThose discussions have largely been one-sided, w\/out the agency giving companies critical feedback needed to finalize their products.\u201d<\/p>\n

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May 23rd deadline quickly approaching.<\/p>\n

via @joelight<\/a> pic.twitter.com\/TFUfXB1ZjL<\/a><\/p>\n

\u2014 Nate Geraci (@NateGeraci) April 8, 2024<\/a><\/p>\n<\/blockquote>\n

Rather than give its feedback on the numerous flings from BlackRock, Grayscale, and <\/span>Bitwise<\/span><\/a>, the agency is awaiting comments on this rule change proposal. To this end, the agency has initiated a <\/span>public comment period<\/span><\/a> for some of the proposed spot Ethereum ETFs. The three-week deadline for these comments is notably still open.<\/span><\/p>\n

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Bloomberg ETF analyst Eric Balchunas jumped on the conversation and stated that the actions taken by the SEC have not done anything to influence the odds of a spot Ethereum approval. According to the analyst, all the Commission needs to do now is to provide critical feedback to the applicants that are earnestly waiting for its decision.<\/span><\/p>\n

Approval Odds Plunges<\/strong><\/h2>\n

Odds pooled recently from Polymarket gamblers suggest that investors are double-minded about the possibility of receiving approval from the SEC. The data from the prediction platform shows an obvious division among these gamblers, positioning the <\/span>odds of spot Ethereum ETF approval<\/span><\/a> at 45%.\u00a0<\/span><\/p>\n

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Even Balchunas has adjusted his outlook on the approval probability of a spot ETH ETF by May. Precisely, he lowered his estimate from 70% to 30%, reflecting growing skepticism among investors. Another senior Bloomberg ETF analyst James Seyffart, believes strongly that the SEC\u2019s silence in this matter, particularly to Fidelity\u2019s filing, does not mean well for the proposed rule change.<\/span><\/p>\n

The potential \u201csecurities\u2019 tag on Ethereum is one of the fears that investors have about the possibility of getting the SEC approval. However, <\/span>BlackRock CEO Larry Fink <\/span><\/a>believes spot Ethereum ETF might still become a reality despite the securities tag the SEC is looking to place on ETH.<\/span><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Nate Geraci, the president of The ETF Store has revealed that a handful of spot Ethereum ETF filers have met with the United States Securities and Exchange Commission (SEC) to discuss the modalities of the proposed offering.\u00a0 Uncertainty Looms Amid Approaching Spot Ethereum ETF Deadline Geraci highlighted a post from Senior Bloomberg writer Joe Light […]<\/p>\n","protected":false},"author":2,"featured_media":272493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-279859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/279859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=279859"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/279859\/revisions"}],"predecessor-version":[{"id":279861,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/279859\/revisions\/279861"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/272493"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=279859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=279859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=279859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}