SEC Unlikely to Approve Spot Ethereum ETF Next Month, Reuters Reports

IconCrypto News Terminal25 Apr, 2024

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SEC Unlikely to Approve Spot Ethereum ETF Next Month, Reuters Reports

**Reuters: SEC Unlikely to Approve ETH Spot ETF Next Month** The U.S. Securities and Exchange Commission (SEC) is unlikely to approve a spot exchange-traded fund (ETF) for Ether (ETH) next month, according to a Reuters report on April 5th, 2023. The report cited sources familiar with the matter, who said that the SEC has concerns about the liquidity and custody of Ether, as well as the potential for manipulation in the spot market. The SEC has previously approved several futures-based Bitcoin ETFs, but it has not yet approved a spot ETF for Bitcoin or Ether. **Previously on March 8th, 2023, ** the SEC rejected VanEck's spot Bitcoin ETF proposal due to concerns about fraud and manipulation in the underlying Bitcoin market.

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