US SEC expected to deny Ethereum ETFs in May

In the recent days when cryptocurrencies have been falling, a negative claim was made about Ether spot ETFs and it was stated that the SEC will make a decision to reject these funds in May. It was also reported that SEC executives did not bring the details, which are of great importance for ETFs, to the table in recent meetings.

US SEC expected to deny Ethereum ETFs in May

The US Securities and Exchange Commission (SEC), which approved Bitcoin spot ETFs in January, does not seem to make the same decision for Ether. According to information from Reuters, a major global news agency, companies applying for Ether spot ETFs have become desperate.

In the news of the agency, it was stated that the applicant companies stated that the meetings with the SEC were unproductive and at the same time they were discouraged.

As it is known, many companies from BlackRock to VanEck and ARK Invest had applied for Ether spot ETF. While the deadline for some applications expires at the end of May, others are delayed until June and July, but the SEC usually makes both approval and rejection decisions collectively in the last period.

Ether price drops

After the news from Reuters, the price of Ether fell below $3100. Ether, which has already been in decline recently, is trading at $ 3070 in the minutes the news was written. In the last 2 days, the Bitcoin price also fell from around $ 66,000 to $63,000.

“Important details were not discussed”

In recent meetings between applicant companies and SEC executives, some key details of the ETFs were reportedly not even discussed. Reuters’ sources, who requested anonymity, said this was not the case for the Bitcoin spot ETFs in January, and that even the smallest details were discussed weeks before approval.

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