In this context, large financial players anticipate a possible increase in ether of up to 70% in the coming months, as ETF applications are expected to be approved in May.
The US Securities and Exchange Commission (SEC) announced a delay in making a decision on an exchange-traded fund (ETF) of Spot Ethereum(ETH) jointly proposed by Invesco and Galaxy Digital, according to an official statement.
This proposed product seeks to allow professional investors to directly access spot ether, offering an alternative to ether futures listed on the CME, which are currently one of the few options for US investors and regulated funds to participate in the growth of Ethereum.
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James Seyffart, analyst Bloomberg Intelligence, commented that the decision to delay was in line with expectations. “It is 100% expected, and further delays are expected in the coming months,” Seyffart said. “The only relevant date for #ethereum spot ETFs right now is May 23, which is the final @vaneck_us deadline.”
Ethereum: it is not the first time that the SEC rejects an ETF
In January, the SEC had already delayed the request for Grayscale Investments to convert its Ethereum (ETHE) fiat product into an ETF and had also postponed the decision on the application for BlackRock for an ETF of ether. In this context, large financial players anticipate a possible increase in ether of up to 70% in the coming months, as ETF applications are expected to be approved in May.
“In anticipation of the scheduled approval date of May 23, we anticipate that ETH prices will continue, or even surpass Bitcoin (BTC) during the comparative period,” Standard Chartered Bank said in a statement issued in January.
Source: Ambito
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