Hester Peirce, a Commissioner at the Securities and Exchange Commission (SEC) often referred to as “Crypto Mom,” has expressed that a lawsuit may not be necessary for the SEC to approve spot Ethereum ETH/USD exchange-traded fund (ETF) applications.
What Happened: In an interview with Coinage Media on Tuesday, Peirce said, “We shouldn’t need a court to tell us that our approach is ‘arbitrary and capricious’ in order for us to get it right.”
Pointing to the Grayscale court ruling that led to the approval of spot Bitcoin BTC/USD ETFs in the United States, she mentioned that the SEC would not require a court’s intervention to approve such matters in the future.
When asked by the Coinage host Zack Guzmán on whether a court case would be required to get ETH ETF approved. Peirce said, “That’s not how we’re going to do our approvals.”
She added, “There’s a lot of work that goes into getting an exchange-traded product ready for market, including making sure that the disclosures are lining up with how the product actually works.”
Among the applicants for the SEC’s approval of spot Ethereum ETFs are financial giants such as BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, and Hashdex. Upcoming decision deadlines span from May 23 for VanEck to August 7 for BlackRock.
Bloomberg’s Senior ETF Analyst Eric Balchunas has assigned a 70% probability of an Ethereum ETF approval by May.
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Why It Matters: Meanwhile, the Securities and Exchange Commission (SEC) has postponed the deadline for passing a judgment on the proposed spot Ethereum exchange-traded fund (ETF) by Fidelity to March 5.
Photo via Shutterstock.
Price Action: At the time of writing, ETH was trading at $2,216, down 5.51% in the last 24 hours, according to Benzinga Pro.
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Image and article originally from www.benzinga.com. Read the original article here.