Tron (TRX) founder Justin Sun, one of the most influential names in the cryptocurrency world, offered his opinion on whether Ethereum (ETH) spot ETFs will be approved by the SEC in his statement.
According to Justin Sun's statement, he thinks that Ethereum ETFs will not be approved in May.
The SEC has until May 23 to make a decision on spot Ethereum ETFs, which were first applied for by VanEck. The institution, which has postponed this application many times before, this time has to make a decision in the form of rejection or acceptance. Then, May 24th is the final decision date for Cathie Wood's ARK Invest company's Ethereum spot ETF.
Even if the SEC approves Ethereum ETFs, it will do so simultaneously to avoid giving any one company an initial advantage. So if VanEck's application is accepted, we could see multiple Ethereum Spot ETF approvals on the same day.
However, Sun, who thinks the SEC will reject these ETFs in May, says the cryptocurrency industry still needs to prepare to conduct a long-term education program with regulators. According to Sun, regulatory authorities should be made to understand cryptocurrencies.
*This is not investment advice.