The CEO of the investment company VanEck, Jan van Eck, called the approval of spot Ethereum-ETFs in May 2024 unlikely. In his interview CNBC he stated that the US Securities and Exchange Commission (SEC) does not respond to applications from potential issuers.
At the same time, according to Jan van Eck, his company was the first to apply for the launch of a spot Ethereum-ETF together with the company Ark Invest. The final decision on them will be made on May 23 and 24, respectively.
In conversation with reporters CoinDesk the expert added that even after completing Form S-1 and filing an updated filing, the company did not receive any comments from the SEC. The company filed the relevant documents in February 2024.
Notably, Bloomberg analysts reduced the probability of Ethereum-ETF approval in May is up to 30%. They also pointed to the lack of comments from the regulator, which reduces the chances of launching an investment product.
Jan van Eck believes the industry should focus on reducing transaction fees rather than on Bitcoin, Ethereum and related exchange-traded funds.
To reduce transaction costs, he suggested using the Solana network or second-layer solutions. According to him, they not only reduce costs, but are also suitable for creating truly useful applications.
Source: Cryptocurrency
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