While the approval of Bitcoin spot ETFs by the SEC has caused many companies to make the same application for Ether, Valkyrie, one of the companies that did not apply, does not expect an approval for Ether.

“I think it will take a lot of time for SEC”

Steven McClurg, fChief Investment Officer at Valkyrie, gave an interview to US media The Block on the subject and said that he does not expect Ether spot ETFs to be accepted this year:

“There was a lot of work put into getting spot bitcoin launched on behalf of regulators and the SEC, as well as the issuers. It’s a new asset class so there’s a lot to learn. So I think it will take the SEC a lot of time to get their head around what disclosures look like for a product like that, So it could take another year just to understand the disclosure aspect. “It would be very difficult to offer eth staking without deeming that to be a security feature,” McClurg said. 

“We’ll see what happens for XRP”

McClurg additionally spoke about the possibility of a spot XRP exchange-traded fund, considering XRPs lawsuit with SEC:

“Bitcoin, Ether and XRP have all been deemed to not be securities either by the SEC or through the courts, I think there’s a few others that might be deemed later to also not be securities that can be held in an ETF, but we’ll see what happens over the next year.” McClurg said.