While all eyes are on the Ethereum ETF after the approval of the Spot Bitcoin ETF, there are many opinions about the ETH ETF.
While some analysts are certain that Ethereum ETFs will be approved in May 2024, some analysts argue that the approval may be delayed a little further.
Speaking to The Block at this point, analysts at US investment bank TD Cowen said that they predict that the SEC will not approve a spot Ethereum ETF until late 2025 or early 2026.
TD Cowen Washington Research Group, led by Jaret Seiberg, stated the following in a note they wrote:
“We do not expect the SEC to approve a spot Ethereum ETF in 2024.
This will be a political decision. “Given how upset SEC Chairman Gary Gensler and progressive Democrats were about the agency approving a spot Bitcoin ETF earlier this month, we believe there is no upside to it approving a spot Ethereum ETF.”
Analysts also point out that Gensler is in no rush to approve an Ethereum ETF, saying, “Gensler first wants to have more experience with the performance of the recently approved spot Bitcoin ETFs before approving the spot Ethereum ETF. “It aligns with s broader approach to crypto, namely a desire to move gradually and slowly in providing regulatory approval or clarity.” said.
TD Cowen analysts recently added that SEC Chairman Gary Gensler's term ends in June 2026.
*This is not investment advice.
