-
Bloomberg
analyst
James
Seyffart
believes
a
spot
ether
exchange-traded
fund
won’t
get
approved
in
May. -
Seyffart
and
his
colleague
had
previously
seen
a
35%
chance
that
one
or
more
of
the
issuers
will
receive
a
green
light.
Odds
that
spot
ether
ETFs
will
get
approved
in
May
have
gotten
slimmer,
according
to
a
Bloomberg
ETF
analyst
who
cited
U.S.
regulators’
seeming
lack
of
engagement
with
potential
issuers
over
the
products.
“We
now
believe
these
will
ultimately
be
denied
on
May
23rd
for
this
round,”
Bloomberg
Intelligence
ETF
analyst
James
Seyffart
wrote
in
a
post
on
X
on
Tuesday.
Seyffart
and
his
colleague
Eric
Balchunas
had
previously
given
35%
odds
for
approval
in
May.
The
Securities
and
Exchange
Commission
postponed
a
decision
on
a
spot
ether
exchange-traded
fund
previously,
but
it
will
have
to
make
one
by
May
23,
as
that
is
the
final
deadline
for
one
of
the
applicants.
Currently,
seven
issuers
are
hoping
to
launch
an
ether
fund:
BlackRock,
Fidelity,
Invesco
with
Galaxy,
Grayscale,
VanEck,
21Shares
with
Ark,
and
Hashdex.
Seyffart
noted
that
the
SEC
hasn’t
gone
back
and
forth
with
issuers
over
the
spot
ether
ETF,
a
contrast
to
the
extensive
discussions
that
took
place
before
spot
bitcoin
ETFs
were
approved
in
January.