VanEck Believes SEC Will Not Approve Spot Ethereum ETFs

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Firms hoping for the Securities and Exchange Commission’s approval on a spot Bitcoin exchange-traded fund are worried about the likelihood of getting the go-ahead for an Ether product.

In an interview with CNBC, CEO of VanEck Jan van Eck said he anticipated the rejection of their VanEck Ethereum ETF in May, which is the first deadline for the SEC to make a decision on these types of products.

Other well-known companies like Fidelity and BlackRock have also applied for a spot Ether ETF in recent months, raising hopes after the SEC approved 11 spot Bitcoin ETFs in January.

However, the enthusiasm has waned in the past few weeks, with CoinShares CEO Jean-Marie Mognetti expressing doubt and believing that approvals won’t happen this year.