Bloomberg Analyst Predicts Ethereum Spot ETFs to Face Rejection in May
In a surprising turn of events, James Seyffart, an experienced ETF analyst at Bloomberg, has shifted his stance and now anticipates the rejection of Ethereum Spot ETF applications in May.
Previously, Seyffart held a cautiously optimistic perspective on the approval of these ETFs. However, he recently stated that he expects at least three more delays for Ethereum ETFs, specifically naming VanEck, Ark/21Shares, Hashdex, and Grayscale. He also noted that Hashdex and Ark/21Shares have already faced postponements from the SEC.
Seyffart highlighted that he always knew these would be postponement decisions and emphasized, “The only deadline that matters is May 23. This has always been the case.”
The change in Seyffart’s viewpoint is primarily due to the lack of engagement from the SEC with ETF issuers regarding Ethereum’s unique features. This contrasts the SEC’s approach towards Bitcoin ETFs earlier this year. Seyffart concluded, “My cautiously optimistic attitude towards ETH ETFs has changed over the past months. We now believe they will be ultimately rejected for this round on May 23.”
Please note that this analysis should not be considered as investment advice.