Spot Ether ETF Approval Won't Require Court Battle, Says SEC Commissioner

Despite optimism from Commissioner Peirce, SEC Chair Gensler expresses caution; decision on BlackRock's application delayed

SEC Commissioner Hester Peirce believes that the approval of spot ether ETFs won't require a court battle, stating that the SEC should apply regular consideration to these products, similar to other commodity-based ETPs.
Despite Peirce's optimism, SEC Chair Gary Gensler has expressed caution, stating that the recent approval of spot bitcoin ETFs does not necessarily signal the Commission's willingness to approve listing standards for crypto asset securities.
BlackRock, Ark 21Shares, and Grayscale are among the firms that have applied for a spot ether ETF. The SEC has recently delayed a decision on BlackRock's application.
Peirce has criticized the SEC's approach to crypto regulation, stating that the agency has squandered a decade of opportunities to approve these products.
Despite the uncertainty, some analysts, such as Bloomberg’s Senior ETF Analyst Eric Balchunas, predict a high probability of an Ethereum ETF approval by May.