James Seyffart, Bloomberg's veteran ETF analyst, recently expressed a change in perspective regarding the approval of Ethereum Spot ETFs.
Seyffart, who previously held a cautiously optimistic view, now believes these ETFs will ultimately be rejected.
In a recent statement, Seyffart said, “We will likely see at least 3 more Ethereum ETF delays today or tomorrow. VanEck, Ark/21Shares, Hashdex, and Grayscale are expected to delay in the next approximately 12 days.” He also added that Hashdex and Ark/21Shares applications have already been delayed by the SEC.
Referring to the latest postponements, Seyffart emphasized that he knew that these would always be postponement decisions and said, “The only deadline that matters is May 23. This has always been the case.”
Seyffart's change in perspective stems from the SEC's lack of engagement with issuers regarding Ethereum's properties, which stands in stark contrast to Bitcoin ETFs this fall. “My cautiously optimistic attitude towards ETH ETFs has changed over the past months. We now believe they will be ultimately rejected for this round on May 23,” Seyffart concluded.
*This is not investment advice.
