ETHEREUMREGULATION

Ethereum spot ETF listing blocked? Insider: SEC internally staunchly opposed

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Ethereum spot ETF listing blocked? Insider: SEC internally staunchly opposed

According to information obtained by Fox Business reporter Eleanor Terrett, ETF issuers, asset management firms, and the SEC have different views on Ethereum spot ETFs.

Optimists Predict: SEC Will Follow Path to Approve BTC Spot ETF

Eleanor Terrett mentioned that a Bitcoin spot ETF issuer, who is also an applicant for an ETH spot ETF, believes that the successful listing of the Bitcoin spot ETF will prompt the SEC to approve an ETH spot ETF.

Another report indicates that with the approval of an Ethereum futures ETF and BlackRock's strong track record in ETF applications, they believe an ETH spot ETF could be listed before the end of the third quarter of this year.

SEC Internally Strongly Opposed?

Eleanor Terrett quoted insiders saying that the current stance of the SEC towards an ETH spot ETF is "strongly opposed," facing certain internal resistance.

However, SEC Commissioner Hester Peirce, who has always supported the crypto industry, gave a statement to Coinage this morning that is almost completely opposite to what the "insiders" claimed:

The SEC had delayed the listing of an ETH futures ETF previously and does not want to repeat the same mistake this time. The SEC needs to review these products in a routine manner as they would with similar products.

Good News: SEC Has Recognized ETH as a Commodity

SEC Chairman Gary Gensler has always maintained that only Bitcoin falls under the category of commodities.

SEC Chairman Gary Gensler in 2018: Ethereum is Sufficiently Decentralized and Not a Security

However, an anonymous source pointed out that the SEC has now recognized ETH as a commodity, and including the Ripple lawsuit, XRP has not been deemed as selling securities in the secondary market by the judge. All of this makes Gary Gensler's future decisions on securities classification more challenging.

After Reading XRP Court Documents, Explaining the Reasons Why XRP and the Crypto Market Have Not Escaped Securities Risks