- The approval of a spot Ether ETF is speculated to be tied to the outcome of the US elections and a potential win for Donald Trump, according to Bloomberg’s Eric Balchunas.
- The SEC under the current chair, Gary Gensler, is expected to reject applications.
- The final decision is expected to be made on May 23, with approval potentially delayed until the end of 2025.
Spot Ether ETF approval may hinge on US elections and potential Trump victory, as the SEC under Gensler is expected to reject applications. The final decision is due on May 23, with approval potentially delayed until 2025.
SEC Expected to Reject Spot Ether ETF
Bloomberg’s senior ETF analyst, Eric Balchunas, has speculated that the U.S. Securities and Exchange Commission (SEC) will reject spot Ether ETF applications on May 23. Furthermore, he suggests that the SEC’s approval of a spot Ethereum ETF may not come until the end of 2025. The odds of approval are largely tied to the outcome of the 2024 US elections. If Donald Trump wins, the SEC is expected to undergo a more favorable change in leadership compared to the current chair, Gary Gensler.
Impact of US Elections on ETF Approval
The 2024 US presidential election could significantly impact the chances of Ethereum ETF approval. If Donald Trump wins the election, the SEC will have a new chairperson. While current President Joe Biden has shown an anti-crypto stance, Trump has used crypto to attack Biden. Meanwhile, billionaire entrepreneur Mark Cuban has criticized SEC Chair Gary Gensler and the New York SEC, warning of potential consequences in the upcoming election if current regulatory trends persist.
Conclusion
The approval of a spot Ether ETF is speculated to be heavily influenced by the outcome of the 2024 US elections and a potential win for Donald Trump. The SEC under the current chair, Gary Gensler, is expected to reject applications. However, the final decision, due on May 23, could be delayed until the end of 2025. The crypto community awaits the decision with bated breath, as it could significantly impact the Ethereum market.
