The crypto asset manager has now filed for a spot Solana ETF after getting the ball rolling for a spot for XRP ETF and Litecoin ETF earlier in October.
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State Street believes the “next level of growth” will come from investment options offering more than “pure spot” Bitcoin.
Mechanism Capital’s Andrew Kang believes an Ether ETF would provide limited upside for the asset unless Ethereum “develops a compelling pathway to improve its economics.”
Ethereum is already home to the world’s largest DeFi protocols, tokenized RWAs, and stablecoins, but its technical roadmap could be hard for TradFi to understand.
VanEck’s ETF is currently designated inactive on the DTCC website, meaning it cannot be processed until it receives the necessary regulatory approvals
Many market analysts recently changed their stance after the SEC unexpectedly requested that aspiring Ether exchange-traded fund exchanges update their 19b-4 filings before a deadline this week.
Many industry pundits speculate the SEC’s sudden change of pace on spot Ether ETFs could be a result of increased political pressure.
ETF analysts expect spot Ether ETF applications to be “sporadically” delayed until May, when the first of many final decision deadlines are due.
“We shouldn't need a court to tell us that our approach is arbitrary and capricious for us to get it right,” said SEC Commissioner Hester Peirce.