Reports confirmed that Coinbase & Grayscale are doing their best to gain regulatory approval from the American securities regulatory body for the Ethereum spot ETF application.
Many Ethereum spot ETF applications are waiting to get regulatory approval from the United States Securities and Exchange Commission (SEC). As we know the SEC body approved 11 Bitcoin spot ETF applications in Jan of this year, so the majority of the crypto investors are optimistic that the SEC may easily green signal ETH spot ETF applications also but experts believe that there is huge uncertainty in case of ETH.
On Wednesday of this week, the top American crypto exchange Coinbase & popular digital assets fund manager Grayscale met with the SEC body to talk about the risks & safety concerns of Ethereum spot ETF products.
Currently Grayscale provides investment in Ethereum (ETH) via its product Grayscale Ethereum Trust (ETHE), which is a security asset.
Grayscale aimed to convert this ETF into a spot ETF product, to provide more safety & better experience to the customers.
Earlier this some top ETF experts shared their opinion on the possibilities of Ethereum spot ETF applications and noted that there is huge uncertainty on the approval chances.
In recent days, the SEC body has pushed back its decision on several other spot Ethereum ETF applications.
According to Bloomberg, ETF analyst James Seyffart predicted that delays would continue until May 23 and this particular date may bring some good or bad news.
Some experts believe that BlackRock’s better relationship with the SEC body might not help approval of Ethereum spot ETF applications and there are huge chance that the SEC may order BlackRock to withdraw its ETH ETF application.
Ethereum price action
The current trade price of Ethereum (ETH) coin is $3,913 and this trade price has been 14% higher over the last 7 days.
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