Ark Invest and VanEck are trying to release the ARK 21Shares Ethereum ETF and VanEck Ethereum ETFs on the Chicago Stock Exchange, according to Bloomberg strategist James Seyffarth.
Despite the rapidly growing interest in similar instruments, he doubts that the SEC will approve these applications and believes that the regulator may opt to increase the deadline for their consideration until May 23, 2024.
At the same time, Seyffarth assesses that the SEC is likely to legalize exchange-traded crypto funds for both Bitcoin and Ether in 2023, with a 50% chance of approval for the former’s applications at the end of October this year.
