SEC Reportedly Reconsidering Spot Ether ETF Denial, Decision Expected by May

The United States Securities and Exchange Commission (SEC) is reportedly reconsidering its stance on denying spot Ether (ETH) exchange-traded fund (ETF) applications, with market analysts suggesting a decision could be made by May 2024. This potential change comes after the SEC’s recent delays in deciding on such applications from major firms like BlackRock and Fidelity, which were initially postponed to allow more time for review.

Analysts, including James Seyffart from Bloomberg, estimate a 60% chance of approval for these spot Ether ETFs. The reconsideration follows a broader trend in the cryptocurrency market, where the SEC has faced pressure to approve spot cryptocurrency ETFs following their initial approval of spot Bitcoin ETFs. The outcome of these decisions is highly anticipated, as approval would mark a significant milestone in the accessibility and regulation of Ether investments.