May Miss for Ethereum ETFs? Top Analyst Predicts August Approval
Mustafa Mulla3 May 20241 min read
Crypto expert Michaël van de Poppe has shared his take on the chances of an Ethereum Exchange-Traded Fund (ETF) getting the green light this May. He believes the odds are slim as the deadline approaches for three leading contenders among seven applicants vying for an Ethereum Spot ETF.
Here’s what he has to say.
May Doesn’t Look Promising!
In a recent tweet, van de Poppe pointed out the ticking clock for Ethereum Spot ETF hopefuls like VanEck, Ark 21 Shares, and Hashdex Nasdaq. He doesn’t see an Ethereum ETF approval happening in May.
Van de Poppe doesn’t think the SEC will label ETH ETFs as securities, which could trigger legal battles. Instead, he thinks they’ll find reasons to delay approval beyond May.
Will August Bring Better News?
But van de Poppe isn’t alone in his skepticism. MicroStrategy CEO Michael Saylor shares his doubts about an Ethereum ETF approval. In fact, Saylor predicts it might never happen.
Saylor’s Harsh Forecast
Saylor predicts the SEC will classify Ethereum as a security this summer, leading to rejections for spot ETF applications, even from industry giants like BlackRock.
At the MicroStrategy World 2024 conference on May 2, Saylor made these predictions public. He also warned that other cryptocurrencies further down the ladder, like BNB, Solana (SOL), XRP, and Cardano (ADA), could face similar issues.
With or without an ETF, is Ethereum a long-term winner? Share your thoughts.
