Two ETF analysts are reconsidering the likelihood of the United States Securities and Exchange Commission (SEC) approving a spot Ether (ETH) ETF after hearing rumors about the financial regulator. Bloomberg analysts James Seyffart and Eric Balchunas previously anticipated that the SEC would reject spot Ether ETF applications. However, they have now changed their prediction, increasing the chances of approval from 25% to 75%. Seyffart suggested that the issue was becoming more politically charged and expected to see a surge in filings if their information was accurate. The SEC needs to make a decision on VanEck’s spot Ether ETF application by May 23, and there are several other ETFs awaiting approval from the commission. VanEck CEO Jan van Eck expressed doubt that the SEC would approve their ETF application in May, while Grayscale withdrew their application for an Ether futures ETF, and Michael Sonnenshein announced his resignation as CEO. Recent votes by US lawmakers in the House and Senate could potentially impact how the SEC handles banks dealing with companies holding assets, and it remains uncertain whether President Joe Biden will veto or sign the congressional resolution into law.
Analysts claim SEC may be reconsidering denial of Ether ETF spot.