Ethereum insider Steven Nerayoff has expressed skepticism over the possibility of an Ethereum (ETH) Exchange-Traded Fund (ETF) being launched. This comes after the approval of Bitcoin Spot ETFs by the United States Securities and Exchange Commission (SEC) on January 10, which has led crypto enthusiasts to consider ETH as the next potential candidate for ETF approvals. However, Nerayoff disagrees with this notion.
The @WhaleChart account on X (formerly Twitter) conducted a poll asking its over 400,000 followers which cryptocurrency they would like to see receive ETF approval next after Bitcoin. The options included Ethereum, Cardano, XRP, and meme coins. Ethereum emerged as the most popular choice, garnering 43.4% of the total votes at the time of writing.
Despite this, Nerayoff does not believe that ETH will be the next to receive an ETF. In response to Whale Chart, Nerayoff, who has previously threatened to expose the founders of Ethereum for fraud, stated that Ethereum will not be the next asset to receive ETF approval. He suggested that other cryptocurrencies on the list, such as Cardano and XRP, have a higher likelihood of being approved for an ETF. He reiterated his fraud allegations against the founders of ETH as a reason why an ETH ETF would not be forthcoming.
Contrary to his criticism of Ethereum and its founders, Nerayoff holds a more favorable view of Bitcoin. Following the approval of the Spot Bitcoin ETFs, he stated that “Bitcoin is undeniably a game-changer for humanity and revolutionizing technology.” This was in response to a tweet from 2017 where he had revealed that the SEC had rejected a Bitcoin ETF. Six years later, the regulator approved Spot BTC ETFs, highlighting the unpredictability of the crypto market.
Despite Nerayoff’s skepticism, expectations for an ETH ETF remain high. Financial giants such as BlackRock, Valkyrie, and Fidelity are already in the race for a Spot Ethereum ETF. Bloomberg analysts James Seyffart and Eric Balchunas have predicted that an ETH ETF could be approved in mid-2024.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | negative |
| Relevance Score | 1 |
| People | Steven Nerayoff, Eric Balchunas, James Seyffart |
| Companies | Bloomberg, United States Securities and Exchange Commission, @WhaleChart, Fidelity, BlackRock, Valkyrie |
| Currencies | Bitcoin, Ethereum, Cardano, XRP |
| Securities | None |
