Published on March 04, 2024 15:25 GMT+00:00edited on March 04, 2024 15:31 GMT+00:00

According to Variant Fund Chief Legal Officer Jake Chervinsky, the Security and Exchange Commission’s denial of spot ether exchange-traded funds in the United States by the May deadline is more likely than people think.

“I’m not saying for certain that the spot ETH ETF won’t be approved by May 23,” Chervinsky posted on X. “I’m just saying that the legal issues and policy environment in DC make denial (or an SEC request to withdraw) more likely than general sentiment suggests.”

With U.S. spot bitcoin ETFs launching successfully in January, attention has turned toward the prospect of spot ether ETF approvals by regulators in Washington, DC.  However, SEC Chair Gary Gensler has stated that the agency’s approval of spot bitcoin ETFs was limited to the single cryptocurrency and …