VanEck CEO Says SEC Unlikely to Approve Spot Ether ETFs in May
VanEck CEO Jan van Eck has expressed doubt regarding the approval of spot Ether exchange-traded funds (ETFs) by the United States Securities and Exchange Commission in May.
In an interview with CNBC on April 9 , van Eck stated that his firm’s spot Ethereum ETF application will “probably be rejected.”
VanEck, alongside Cathie Wood’s ARK Invest, was among the first to file for a spot Ether ETF in the United States.
Both firms are currently awaiting a final decision, scheduled for May 23 and May 24, respectively.
van Eck highlighted the regulatory process, explaining that regulators provide comments on the application, and in the case of Ethereum, there has been a notable lack of feedback.
CoinShares CEO Jean-Marie Mognetti has shared a similar pessimistic view, stating that he does not foresee any approvals occurring in the near future.
The SEC has maintained a prolonged period of inaction on the seven pending applications for spot Ether ETFs.
This ongoing “radio silence” between the regulator and prospective fund issuers, as noted by commentators including Senior Bloomberg ETF analyst Eric Balchunas, contributes to the decreasing likelihood of an ETF approval in May.
Van Eck’s Ether ETF application is one of seven awaiting approval, including those from Grayscale, BlackRock, and Fidelity.
Balchunas, who previously assigned a 70% chance of approval in May, has revised his odds to 35%.
In a post on X, he reiterated van Eck’s sentiments and highlighted the need for the SEC to provide comments and critical feedback, which has been lacking thus far.
Likewise, ETF analyst James Seyffart echoed this sentiment, emphasizing that the absence of comments or interactions from the SEC is concerning.
He questioned
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