Reports confirmed that Coinbase and Grayscale are trying their best to get US securities regulatory agency approval for the Ethereum spot ETF application.
Many Ethereum spot ETF applications are awaiting approval from the US Securities and Exchange Commission (SEC). As we know, the SEC body approved 11 Bitcoin spot ETF applications in January this year, so the majority of crypto investors are optimistic that the SEC can also easily green signal ETH spot ETF applications, but experts believe that there is enormous uncertainty in the case of ETH.
On Wednesday this week, top US cryptocurrency exchange Coinbase and popular digital asset fund manager Grayscale met with the SEC body to discuss the risks and security concerns of Ethereum spot ETF products.
Currently, Grayscale offers investments in Ethereum (ETH) through its Grayscale Ethereum Trust (ETHE) product, a security asset.
Grayscale aimed to convert this ETF into a spot ETF product to provide greater security and a better experience for customers.
Previously, some top ETF experts shared their thoughts on the potential of Ethereum spot ETF applications, noting that there is significant uncertainty surrounding the chances of approval.
In recent days, the SEC body has postponed its decision on several other spot Ethereum ETF filings.
According to Bloomberg, ETF analyst James Seyffart predicted that the delays would last until May 23 and that this specific date could bring good or bad news.
Some experts believe that BlackRock’s better relationship with the SEC body will not promote the approval of Ethereum spot ETF applications, and there is a good chance that the SEC will order BlackRock to withdraw its ETH ETF application.
Ethereum price action
The current trading price of the Ethereum (ETH) coin is $3,913 and this trading price is up 14% in the last 7 days.
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