Jan van Eck, CEO of VanEck, chatted with CNBC and said they were hoping to get a green light for their Ethereum project in May but are now preparing for a possible no-go.
Van Eck pointed out that the SEC usually talks a lot with companies before saying yes or no, but things have been pretty quiet on the Ethereum front. This silence is making people nervous.
Why Do People Care So Much?
When the SEC said yes to the Bitcoin ETFs, it was a big deal. People got super excited, thinking Ethereum would be next. This hope made Ethereum’s price jump up about 10% last week. But the SEC, led by Gary Gensler, has been cautious. Gensler says a lot of these digital money projects need to follow the same rules as other investments, and that’s making things complicated for Ethereum’s ETF chances.
Some Insight from CoinShares
Jean-Marie Mognetti, who’s in charge of CoinShares, talked about how they’re watching this whole situation closely. Even though they jumped into the Bitcoin ETF game late and made it, they’re not too hopeful about getting an Ethereum ETF approved any time soon. Mognetti mentioned the technical stuff behind Ethereum is a bit different from Bitcoin, which could be causing the SEC to hesitate.
What’s Next?
As the May deadline draws near, everyone from big investment companies to regular folks interested in cryptocurrency is waiting to see what the SEC decides. This decision is more than just a yes or no for a few companies; it could shape how people can invest in cryptocurrencies like Ethereum in the future. Even with the uncertainty, one thing’s for sure: the world of digital money keeps moving fast, and people are ready to adapt no matter what comes their way.
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