Fox Business reporter Eleanor Terrett shared the perspectives on Ether spot ETF from issuers, investment management companies, and insiders at the U.S. Securities and Exchange Commission (SEC).
Issuer’s Perspective
Terrett mentioned that a certain issuer, possibly Fidelity, BlackRock, Grayscale, VanEck, Invesco, ARK, or 21Shares, who has already launched a Bitcoin spot ETF, has also submitted an application for an Ether spot ETF. They expressed confidence that the successful approval and launch of the Bitcoin spot ETF would further encourage the SEC to approve an Ether spot ETF.
SEC’s Perspective
However, another insider close to the SEC revealed that the current stance of the SEC is “strongly against” approving an Ether spot ETF, although there are differing opinions within the organization. SEC Commissioner Hester Peirce, in an interview with a foreign media outlet yesterday, stated that the regulatory agency does not want to repeat the “delay” mistake it made with Bitcoin ETFs.
Institutional Perspective
The biggest difference between Ether and Bitcoin lies in how regulatory authorities view the nature of the assets, especially considering SEC Chairman Gary Gensler’s ambiguous stance on whether Ethereum could be considered a security. Terrett sought input from industry professionals on this issue, and received responses indicating that although the SEC’s definition of Ether is unclear, the U.S. Commodity Futures Trading Commission (CFTC) considers ETH a commodity. Additionally, Ripple’s partial victory in a lawsuit further complicates Gensler’s argument that most digital assets are securities. Furthermore, the successful launch of Ether futures ETFs and BlackRock’s track record in ETF approvals have further bolstered belief that an Ether spot ETF may be launched before the end of summer.
In summary, considering the above perspectives, Terrett concluded that the prospects for an Ether spot ETF seem positive.
