Spot Ethereum ETF Approval is a Matter of Time

Grayscale CEO Michael Sonnenshein shared his optimism about the approval of a spot ethereum ETF in an interview with CNBC on the Squawk Box program, stating that it is “a matter of when, not if.” His confidence is based on Grayscale’s successful experience gaining approval for a spot bitcoin ETF.

Approval of Ethereum ETF

Sonnenshein emphasized the importance of working closely with regulators and focusing on investor protection to achieve this goal. While it remains uncertain whether the approval process for an Ethereum ETF would require a lawsuit similar to the Bitcoin ETF, Sonnenshein explained the preliminary work done in conjunction with the SEC as a solid foundation for their confidence.

The crypto market started 2024 with a wave of optimism following the groundbreaking approval of 11 Spot bitcoin ETFs by the US Securities and Exchange Commission (SEC) just ten days into the new year. This pivotal moment has shifted attention to Ethereum as the next potential digital asset that could gain regulatory approval for a similar investment product. The speculation surrounding the approval of an Ethereum ETF is further supported by multiple executives earlier this month who believed the chances of approval were around 50%.

JUST IN: Grayscale CEO says a spot Ethereum ETF is “a matter of when, not a matter of if.” pic.twitter.com/YNOEbOSSyb

— Watcher.Guru (@WatcherGuru) February 23, 2024

Sonnenshein positive on spot eth ETF

Despite questions about the SEC’s willingness to approve an ETH ETF, particularly whether a lawsuit would be necessary as with the bitcoin ETF, Sonnenshein remains positive. He drew parallels between Ethereum’s current situation and that of Bitcoin prior to the approval of his ETF, suggesting that a similar path could be successful for Ethereum.

Grayscale’s confidence, bolstered by their track record with the SEC and broader anticipation among bitcoin ETF issuers, suggests a promising prospect for the approval of a Spot ethereum ETF.