Rumors Suggest Possible Postponement of Ethereum Spot ETFs, According to Bloomberg

According to Bloomberg senior analyst Eric Balchunas, there are rumors that the expected approval of Ethereum spot ETFs may have been delayed.

Balchunas shared an intriguing tweet that captured the market’s attention:

“UPDATE: No update yet. We are waiting to hear something. I saw two people here claiming it’s postponed (without saying the source) until later tonight, but we can’t confirm that with anyone yet. That’s all we know, lol.” @JSeyff.

UPDATE: there is no update yet. We waiting to hear something. Saw two dif ppl on here claiming it is delayed (without saying their source) till later tonight, but we can’t confirm this with anyone yet. That’s all we know rn. @JSeyff

— Eric Balchunas (@EricBalchunas) May 23, 2024

While it hasn’t been confirmed, a slight delay isn’t that crazy considering Trading & Markets itself was informed of the 11th hour. (We think it’s possible they prepared rejection letters). So maybe they need to finish writing it. That said, everything we hear says it will be approved.

This comment raised uncertainty among investors and cryptocurrency market enthusiasts, who have been on high alert awaiting news about the SEC’s approval of Ethereum ETFs. This event was expected to mark a significant turning point for the institutional acceptance of Ethereum as a viable asset class.

The market has shown palpable anxiety regarding these funds, as they would allow investors to access Ethereum directly through traditional investment platforms, without the need for direct engagement with cryptocurrency exchanges. The approval is also seen as a potential catalyst for a new wave of institutional investments in crypto assets.

Analysts are now looking for official confirmations to better understand the state and future of Ethereum ETFs.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.