VanEck CEO Jan van Eck Skeptical of Approval for Spot Ethereum ETFs by SEC in May
VanEck CEO Jan van Eck has expressed doubts about the approval of spot Ethereum exchange-traded funds (ETFs) by the SEC in May. In a recent interview, van Eck stated that he believes his firm’s application will likely be rejected. The lack of feedback from regulators has raised concerns among industry experts, with some predicting no approvals in the near future.
The SEC’s silence on the pending applications for spot Ethereum ETFs has decreased the likelihood of approval in May. Meanwhile, spot Bitcoin ETFs in the US have seen a shift in investor sentiment, with net outflows recorded recently. Despite this, other Bitcoin ETFs have seen inflows, with VanEck’s HODL ETF ranking as the fifth largest among recently launched funds.
Van Eck highlighted the success of Bitcoin ETFs, emphasizing the importance of gaining exposure to the cryptocurrency. With the SEC’s decision on spot Ethereum ETFs looming, the industry is eagerly awaiting feedback and critical comments from regulators. Stay tuned for updates on this developing story.
