Grayscale's chief legal officer says the SEC's previous engagement with Bitcoin ETFs implies that Ethereum ETFs don't need much engagement. Bloomberg analyst Eric Balchunas says he is still pessimistic about any chance of approval. SEC's probing of companies related to the Ethereum Foundation is key as May 23 deadline for the ETF approval approaches.
He stated that the Commission had constructive engagement with stakeholders in the months leading up to the spot Bitcoin ETF approval, discussing key issues like custody, creation/redemption procedures, authorized participants, liquidity providers, etc. Also read:Ethereum Foundation subpoenae threatens ETH ETF approval odds All of these issues were figured out and are identical when comparing spot Bitcoin to Ethereum ETFs.
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