Justin Sun predicts SEC rejection of Ethereum ETF in May, citing need for crypto education

Justin Sun predicts SEC rejection of Ethereum ETF in May, citing need for crypto education
фото показано с : cryptoslate.com

2024-4-29 11:56

Tron blockchain founder Justin Sun says the US Securities and Exchange Commission (SEC) would not approve an Ethereum exchange-traded fund (ETF) in May.

In an April 28 post on X (formerly Twitter), Sun noted that the crypto industry still needs to prepare for a long-term education with regulators, especially in helping them understand how the emerging industry operates.

“My honest opinion (NFA) is that an Ethereum ETF won’t be approved in May. The crypto industry still needs to prepare for a long-term education with regulators, focusing on helping them understand crypto,” Sun said.

Sun’s stance echoes the sentiments of numerous market analysts anticipating the SEC dismissing the pending Ethereum ETF applications.

For instance, Bloomberg ETF analyst Eric Balchunas placed the chances of the SEC greenlighting a spot Ethereum ETF in May at 25%. He attributed this skepticism to the SEC’s less active involvement in the application process than the Bitcoin ETF period.

Also, recent speculations suggest the Gary Gensler-led agency has initiated efforts to classify ETH as security, prompting the Consensys lawsuit against the Commission.

Additionally, feedback from recent meetings with the SEC indicates a pessimistic outlook, with approval prospects appearing bleak.

These revelations have dwindled the likelihood of an Ethereum ETF approval to 11%, its lowest level this year, as indicated by Polymarket data.

Nevertheless, some optimism persists as ETF issuers like BlackRock and Grayscale continue to update their applications despite the silence and expectation of rejection.

Notably, asset management firm Franklin Templeton’s spot Ethereum ETF appeared on the Depository Trust and Clearing Corporation (DTCC) website despite the SEC deferring its decision on the ETF application on April 23.

Craig Salm, Grayscale’s Chief Legal Officer, said the US SEC’s lack of engagement with spot Ethereum ETF applicants wouldn’t be a decisive factor hindering the prospects of such products.

“Investors want and deserve access to Ethereum in the form of a spot Ethereum ETF and we believe the case is just as strong as it was for spot Bitcoin ETFs,” Salm said.

The post Justin Sun predicts SEC rejection of Ethereum ETF in May, citing need for crypto education appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

SUNcoin (SUN) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 SUN

sun may crypto education justin etf sec

Источник: cryptoslate.com

sun may → Результатов: 111


Tron CEO Justin Sun Says Libra FOMO Could Cause a Huge Bull Run for Crypto

The cryptocurrency community is today busy with the launch of Libra, a cryptocurrency launched by social media giant, Facebook which has billions of users globally. While everyone is busy giving their opinion of what Libra may be like, Tron CEO Justin Sun sees a huge potential bull run for the industry due to a FOMO […] The post Tron CEO Justin Sun Says Libra FOMO Could Cause a Huge Bull Run for Crypto appeared first on ZyCrypto.

2019-6-18 16:59


Tron’s Justin Sun is Trending, Witnessing a Massive Surge in His Online Presence and Popularity

As many of our regular readers may recall, Justin Sun recently came into the global media spotlight when he bagged a $4.5 mln lunch with investment guru ‘Warren Buffett’. Since successfully bidding for the above-mentioned charity dinner with Buffet, Sun’s mainstream media exposure seems to have skyrocketed almost overnight. A couple of days back, Justin […]

2019-6-6 17:58


Джастин Сан взорвал соцсети из-за рекламы DeFi

Генеральный директор фонда Tron Foundation Джастин Сан снова вызвал бучу в социальных сетях после того, как опубликовал несколько своих фотографий на фоне рекламы Tron (TRX) на неделе блокчейна в Нью-Йорке.

2019-5-14 13:15


Tron объявляет о выходе Sun Network May

Платформа децентрализованных приложений на основе блокчейна (DApp) Tron представила план расширения своего второго масштабируемого решения Sun Network. Согласно публикации, опубликованной в понедельник, 8 апреля, тестовая сеть сети будет запущена в конце мая.

2019-4-8 17:30


Фото:

Litecoin Just a ‘Glorified Testnet of BTC?’ Charlie Lee Won’t Take It Lying Down, Fires Back at Novogratz

There is a mini-Twitter war brewing between Litecoin creator Charlie Lee and Mike Novogratz, Bitcoin bull and founder of the crypto merchant bank, Galaxy Digital. The war of words may not be as intense as, say, the one between Justin Sun and Vitalik Buterin, but the topic at the heart of the debate is contentious […] Litecoin Just a ‘Glorified Testnet of BTC?’ Charlie Lee Won’t Take It Lying Down, Fires Back at Novogratz was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

2019-4-5 15:59


Justin Sun Addresses Recent Questions About BitTorrent’s Upcoming BTT Token Rollout

As some of our regular readers may remember, a few days back the BitTorrent token project was thrust into the spotlight when an article published by a respected media outlet questioned whether the TRON network possessed the “necessary processing capacity” to handle the thousands of transactions per second which were needed to make BitTorrent’s Token […]

2019-1-14 18:58


Фото:

ICOs Are Withdrawing Ethereum as Justin Sun Says ‘Migrate’ To TRON

Ethereum (ETH) may have lost almost 90 percent of its value in 2018, but this has not fazed projects that raised funds via ICOs, data shows. Aragon Withdraws Over 51,000 Ethereum In its latest edition focused on ICO balances, Diar reveals that ETH withdrawals by developer teams trailed off as the year has progressed (with the exception of September), with November nonetheless marking a slight U-turn in withdrawal habits.

2018-11-28 01:00


дальше еще 62 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Injective Generated More Revenue Than BNB Chain, Avalanche In Q3 2024, Next $50?

Injective Protocol, a DeFi-centric platform using Cosmos tech, is gaining traction, looking at the gas fee revenue distributed to its validators in Q3 2024. While INJ, the native currency of the protocol, is under pressure, cooling off after rallying to as high as $52 early this year, the recent development is a huge confidence boost.