Is Ethereum ETF Launch Closer? Issuers Remain Confident of the Approval

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Is Ethereum ETF Launch Closer? Issuers Remain Confident of the Approval
  • Fox Business reporter Eleanor Terret shares the community’s multiple expectations regarding the potential Ethereum ETF launch.
  • Commissioner Hester Pierce asserts that the SEC will not delay the ETH ETF decision to avoid the mistake that happened with Bitcoin.
  • John Deaton reiterates that the XRP’s victory against the SEC will be a key factor that prevents them from labeling tokens as securities.

The anticipation of a potential Ethereum ETF launch has been creating headlines over the past few weeks, especially after the Spot Bitcoin ETF launch. In a recent tweet, Fox Business reporter Eleanor Terrett shared insights on the various comments and expectations regarding the SEC’s Ethereum ETF approval.

While there are pessimistic views on the SEC’s move, the regulators’ recent approval of the Bitcoin ETF launch has bolstered the anticipations of the ETH ETF launch. Subsequent to the Bitcoin ETF launch, there were talks about the potential launches of an Ethereum ETF as well as an XRP ETF.

A source close to the SEC highlighted the “internal resistance” within the commission to the Ethereum ETF approval. They added that, at the moment, there is a “hard no” to the proposal. However, issuers and other sources remain optimistic about the launch.

The SEC’s Republican Commissioner, Hester Pierce, stated that the regulators would be “applying ‘regular way’ consideration” to Ethereum ETFs. Pierce, who had been advocating Bitcoin ETFs even before its launch, asserted that the commission doesn’t want to repeat the “same mistake of delays” that happened with Bitcoin ETFs.

Another source stressed their expectations of the Ethereum ETF launch by the end of summer. They added that the factors, including the Commodity Futures Trading Commission’s (CFTC) view of Ethereum as a “commodity” and XRP’s landmark victory against the SEC, would prevent the regulators from labeling crypto assets as securities.

Reiterating the comment, prominent XRP attorney John Deaton shared a post, citing, “Coupled with Ripple’s partial victory with XRP not being a security during secondary market transactions will make it an uphill battle for Gary Gensler.”

As per Terrett’s tweet, a Bitcoin Spot ETF issuer that holds an Ethereum Spot ETF recently reiterated their positive beliefs on the SEC’s approval of the Ethereum ETFs. They asserted, “The approval and smooth launch of the Bitcoin spots will compel the SEC to approve ETH Spot ETFS.”

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