Grayscale's Chief Legal Officer, Craig Salm, has expressed strong belief in the approval of Ethereum-ETFs, despite potential regulatory hurdles. According to Salm, the lack of interaction between ETF issuers and the U.S. Securities and Exchange Commission (SEC) should not be seen as an impediment to the approval of Ethereum-based Exchange Traded Funds (ETFs). He articulated his perspective via X (formerly Twitter), suggesting that the absence of direct engagement with regulators is not necessarily indicative of a negative outcome. "I don't think that the lack of interaction on the part of regulators should be taken as a sign one way or the other [...] Personally, it does not deter me, and I believe that Ethereum-ETFs should be approved," Salm commented.
Furthermore, the lawyer highlighted that numerous issues related to Ethereum-ETFs had been addressed in the months leading up to the approval of Bitcoin spot funds. "In many respects, the SEC has already been involved in the process, and issuers may not have to do much this time around. […]", a Grayscale representative stated.
Salm also noted that investors are both eager and deserving of access to Ethereum through a spot Ethereum-ETF, emphasizing that the arguments in favor of approving such a product are as strong as those for Bitcoin spot ETFs.
It is important to note that there have been reports of the Ethereum Foundation, a Swiss non-profit organization, being scrutinized by an unnamed government body. Additionally, the SEC has recently postponed its decision on the approval of spot Ethereum-ETFs from Ark 21Shares, Hashdex, and VanEck, as well as a futures Ethereum-ETF from Grayscale.
This development signifies a crucial moment in the intersection of cryptocurrency and regulatory frameworks, underscoring the growing interest and investment in digital assets. As the financial world waits for the SEC's decision, the confidence expressed by Grayscale's legal chief suggests a positive outlook for the future of Ethereum-ETFs, potentially paving the way for broader acceptance and integration of cryptocurrency into traditional investment portfolios.
