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Cryptocurrency Journalist Reveals ‘Insider Sources’ Leaked Information on Ethereum Spot ETF: Will It Be Approved?

Cryptocurrency journalist Elleanor Terrett shared the opinions of sources about the Ethereum Spot ETF in the latest information she shared.

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In a recent statement, cryptocurrency journalist Elleanor Terrett explained various perspectives on the potential approval of Ethereum Spot ETFs.

The information comes from a variety of sources, including ETF issuers, investment management firms and insiders at the U.S. Securities and Exchange Commission (SEC), the journalist said.

The company, which owns a Bitcoin Spot ETF and also has an application for an Ethereum Spot ETF, expressed confidence that the successful approval and launch of Bitcoin ETFs will persuade the SEC to approve Ethereum spot ETFs, Terrett said.

However, not all sources share this optimism. According to another insider, the SEC's current stance is a firm “no” and there is some internal resistance to the idea of Ethereum Spot ETFs.

According to the journalist, another source pointed to the listing of Ethereum futures ETFs and BlackRock's successful track record in getting ETFs approved. They believe these factors could lead to the launch of Ethereum spot ETFs by the end of summer.

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When asked about SEC Chairman Gary Gensler's unclear position on Ethereum's status as a potential security, the source said that the Commodity Futures Trading Commission (CFTC) considers Ethereum a commodity and Ripple does not allow XRP to be traded in the secondary market. He noted that the partial court victory on the non-security issue would make it harder for Gensler to argue that most digital assets are securities in the future.

SEC Member Hester Peirce told Coinage Media that the agency does not want to repeat past delays with Ethereum ETFs. He emphasized that the SEC should pay the same attention to these products as it does to similar products.

As a result, the ball is once again in the SEC's court. We may get some clues about the potential approval of Ethereum Spot ETFs in the next few months if SEC staff reviews S-1 filings in depth, as they did with Bitcoin Spot ETFs.

*This is not investment advice.

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