Galaxy Digital Research Director Alex Thorn said that the approval of the spot Ethereum ETF is likely not coming in May.
Alex Thorn recently stated that the SEC’s approval for the spot Ethereum exchange-traded fund is unlikely to come in May.
As the reason for his prediction, the experienced name cited the SEC’s limited discussions with ETF issuers and its statements regarding “securities.”
The reserved stance of the regulatory authority towards companies that want to issue a spot Ethereum ETF also reduced the likelihood of approval expected in May. Statements made by the regulatory agency also expressed concerns about the security of Ethereum’s staking mechanism.
Bloomberg’s senior ETF analysts recently stated that the likelihood of a spot Ethereum ETF approval in May had been reduced from 70% to 30%.
Believing that Ethereum is a security rather than a commodity unlike Bitcoin, the SEC recently launched an investigation into the Ethereum Foundation.
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