A prominent crypto analyst and former Wall Street high-yield bond trader is making a bold prediction that all Ethereum (ETH) spot ETFs will gain SEC approval on May 23rd. The analyst, @VivekVentures on X, cites five key reasons backing up this claim.
First, the analyst points to ETF issuers ARK and 21Shares amending their filings to remove Ethereum staking from their spot ETF products. Removing this revenue stream suggests guidance from regulators indicating a pathway to approval.
Secondly, Grayscale’s withdrawal of its ETH futures ETF application is cited as a signal that approval of a spot ETH product is imminent. The rationale is that the heavyweight crypto firm would not forfeit a “winnable fight” unless it anticipated green-lighting of a spot ETH ETF soon.
The third factor is the SEC’s prior approval of ETH futures ETFs post-Merge. This implied regulatory acceptance of proof-of-stake Ethereum as a commodity under CFTC jurisdiction, akin to Bitcoin.
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Show more +Fourth is SEC Chair Gensler’s own past statements labeling Ethereum as a non-security commodity. While Gensler has been vague on ETH’s status lately, the analyst argues the ETF decisions will force clarification.
Finally, the courts have ruled against the SEC’s “arbitrary and capricious” overreach. With the legal precedent set by Bitcoin ETF approvals, denying a spot Ethereum product could mean another humiliating legal defeat for the agency.
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While acknowledging continued regulatory attacks on crypto until political changes occur, @VivekVentures concludes Ethereum ETF approval is inevitable to avoid further reputational damage to the SEC. May 23rd is posited as the date this “non-consensus” trade could pave the way for wider institutional adoption of Ethereum and “a Renaissance of real crypto innovation.”
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