BlackRock’s Secret Influence: SEC Rushes Ethereum ETF Filings – Is a Spot ETH ETF Imminent?

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March 10th Deadline Could Be Make-or-Break!

The post BlackRock’s Secret Influence: SEC Rushes Ethereum ETF Filings – Is a Spot ETH ETF Imminent? appeared first on Coinpedia Fintech News

As the U.S. Securities and Exchange Commission (SEC) urges issuers of spot Ethereum ETFs to update their 19b-4 filings asap. Speculation is brewing within the Ethereum community regarding the imminent approval of Ethereum Exchange-Traded Funds (ETFs)

Meanwhile, Crypto investor Lark Davis suggests that BlackRock, a major investment firm, may have played a key role in accelerating the ETF filings.

BlackRock’s Hand Behind SEC Urgency

Davis’s tweet has sparked optimism among Ethereum investors, as the prospect of ETF approval could significantly impact the cryptocurrency’s adoption and market value. With the SEC urging issuers to submit their 19b-4 filings “ASAP,” it signals a sense of urgency and potential regulatory progress in the cryptocurrency space.

Davis, however, suggests that the call to accelerate filings might have stemmed from investment giant BlackRock, indicating that BlackRock’s influence could be a driving force behind the regulatory push.

SEC asking for updated filings for Ethereum ETFs ASAP, approval likely, Blackrock made the call IMO. It's on like Donkey Kong! LFG!

— Lark Davis (@TheCryptoLark) May 21, 2024

The prospect of Ethereum ETF approval holds significant implications for the cryptocurrency market, particularly for Ethereum investors. Moreover, ETF approval could validate Ethereum as a legitimate asset class and pave the way for broader adoption.

Analyst Views On ETH ETF

Galaxy researcher Alex Thorn has offered new insights into the SEC’s approach to Ethereum ETFs. He suggests that the SEC might differentiate between Ethereum (ETH) and staked Ethereum (stETH) or “staking as a service ETH,” as distinct securities.

if the speculation about a 180 from SEC on the ethereum ETFs is true, i would guess they try to thread a needle between “ETH” NOT being a security and “staked ETH” (or even more flimsily, “staking as a service ETH”) as BEING a security.

that would be somewhat congruent with…

— Alex Thorn (@intangiblecoins) May 21, 2024

Further, Thorn notes, that this may align with the SEC’s ongoing legal proceedings and investigations, potentially allowing Ethereum ETF approvals while maintaining previous opinions.

In parallel, Crypto investor Anthony Pompliano sees an approved Ethereum ETF as a major milestone for the cryptocurrency industry. He believes that approving the ETF essentially signals approval for the entire industry.

Meanwhile, market analysts at QCP Capital predict significant price movements for ETH based on the SEC’s decision. Approval could see prices soar above $4,000, even reaching $5,000, while denial might lead to a drop to $3,000.

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