Will there be an Ethereum ETF launched this year?

Kabir903

Cryptocurrency lawyer Jake Chervinsky holds a pessimistic view on the launch of Ethereum ETFs this year. Chervinsky points out that pressure from the U.S. Securities and Exchange Commission (SEC) could have a negative impact on the approval of ETFs. He states that if necessary, asset management companies will withdraw their applications. In recent months, the potential approval of Ethereum Exchange Traded Funds (ETFs) has been a topic of discussion, especially after the launch of spot Bitcoin ETFs. Despite many remaining optimistic about the upcoming products, prominent cryptocurrency lawyer Jake Chervinsky has expressed his pessimistic viewpoint. Leading industry players, including BlackRock, Fidelity, Grayscale, VanEck, Ark, 21Shares, Invesco, Galaxy, Hashdex, and Franklin Templeton, have submitted applications for Ethereum ETFs. Although the U.S. Securities and Exchange Commission (SEC) has repeatedly postponed approval, the industry believes the agency will respond positively by March 2024. Chervinsky asserts in his latest post that the SEC is undergoing a strong "ZZ backlash," which could become a key obstacle to approval. He states, "My confidence in ETH ETF approval this year is much lower than many of yours." Chervinsky adds that if the SEC decides to reject ETF applications, the regulatory body has enough grounds to justify its decision. The lawyer writes, "The SEC has a legal argument, even if it's wrong, that could pass the laugh test, enough to prove that its rejection is reasonable if it wants to. We know the SEC is willing to take incorrect legal positions in court to satisfy ZZ priorities." Additionally, Chervinsky reveals the situation of asset management companies, including BlackRock, and their "collaboration" with the SEC. The lawyer states that BlackRock has obtained approval for Bitcoin ETFs through this collaboration and its ability to exert "pressure" on the SEC. He adds that if necessary, these asset management companies will withdraw their applications. Recently, Fox Business News reporter Eleanor Terrett shared the crypto community's optimistic and pessimistic views on the approval of Ethereum ETFs. According to her research, the SEC's approval of Bitcoin ETFs has strengthened people's bullish belief in the launch of Ethereum ETFs.

Yamini003

Anyway, when it comes to gambling, one must try to learn how to play rationally.

Jafar224

There is still a good chance that it can be launched.