SEC’s Approval of Ethereum ETFs is Not Certain in Near Future

According to investment bank TD Cowen, it is unlikely that the US Securities and Exchange Commission will approve spot Ethereum exchange-traded funds (ETFs) in the near future.

The original deadline for such approvals is in May. TD Cowen’s Washington Research Group, led by Jaret Seiberg, believes that the SEC will want to gain experience from approving Bitcoin ETFs before considering Ethereum or other cryptocurrency ETFs.

They predict that the wait for approval could be shortened, but it will likely not happen until after the 2024 U.S. presidential elections.

Recently, the SEC approved spot Bitcoin ETFs after rejecting them for over a decade and after allowing Bitcoin futures ETFs in October 2021.

However, this year’s presidential elections may have an impact on future approvals for spot Ethereum ETFs. Many traders are hoping that spot Ethereum ETFs will be next in line for approval, especially after the recent surge in the price of Ethereum.