I Dont See a Reason for the SEC to Deny the ETH ETF, said Bloomberg Analyst Eric Balchunas
There are already Ether futures ETFs trading, so which was the same reason courts ruled for the SEC to scrap its rejection of the Bitcoin spot ETF, the ETF analyst said. Based on the saga prospective Bitcoin ETF issuers have gone through, U.S. securities regulators would likely have to approve a spot Ether ETF, said Bloomberg analyst Eric Balchunas. Ether rallied past $2,000 for the first time sine April on Thursday after it was revealed in a filing to the Nasdaq exchange that BlackRock, the worlds largest asset manager, is planning to launch an ETH ETF, the iShares Ethereum Trust. Balchunas said that the Securities and Exchange Commission will likely have to approve an ETF linked to the spot price of Ethereums native token, Ether, because it has already approved Ether futures ETFs. “I dont see any reason for them to deny Ether given they have approved Ether futures,” Balchunas said on The Defiant podcast, published Monday. “They could open themselves up to another lawsuit.” The D.C. Circuit Court of Appeals ruled in August that the SEC was “arbitrary and capricious” in its decision to reject Grayscales attempt to turn its Grayscale Bitcoin Trust into a spot ETF. The appeals court found that the SEC





