Coinbase Analyst: Ethereum ETFs Will Eventually Be Approved
It seems inevitable that the SEC will eventually approve Ethereum-based spot ETFs, according to David Khan, an analyst at Coinbase.
Although the SEC has not made any public statements about this, and issuers have remained silent, Khan believes that it is only a matter of time before these ETFs are approved.
He also noted that the same reasoning used to approve Bitcoin ETFs can be applied to Ethereum ETFs, since it is the second largest cryptocurrency by capitalization.
However, he expressed doubt about the possibility of quick approval for an Ethereum ETF that includes staking.
On May 10, ARK Invest and 21Shares removed the staking function from their ETF application. Khan believes that there is a 30-40% chance that spot Ethereum ETFs will be approved by the end of May.
He also pointed out that there could be surprises in the approval process, and even if there is an initial rejection, it could potentially be overturned through a lawsuit.
