Ifeanyi Jesse 
Max Keiser Supports SEC Silence for Ethereum ETF Idea
As April approaches its halfway point, the crypto community’s excitement about the possibility of spot Ethereum Exchange-Traded Fund (ETF) approval grows.
Originally scheduled for May, prospects for a spot ETF for the top altcoin are fading amid a deafening silence from regulators, particularly the SEC. Analysts and specialists speculate, but actual details remain scarce.
The most recent update comes from JP Morgan’s camp, which anticipates a probable lawsuit against the SEC if a spot Ethereum ETF fails to materialize in May. They think such legal action may finally push the SEC to approve Ethereum ETFs.
Max Keiser Advocates SEC Position Against Ethereum ETF Idea
Max Keiser, a renowned Bitcoin maximalist and advisor to El Salvador’s president, chimed in unexpectedly, arguing that the SEC was prudent in deferring approval for an Ethereum ETF. Keiser, a staunch supporter of Bitcoin and opponent of rival digital assets, described Ethereum as a “proof-of-stake scam” unworthy of SEC approval.
Other industry players, like VanEck and CoinShares, share Max Keiser scepticism regarding SEC clearance.
VanEck’s CEO anticipates rejecting the Ethereum ETF in May, citing the SEC’s reluctance to provide substantive application feedback.
VanEck’s CEO emphasizes the importance of shifting focus away from ETF goals and dealing with unexpected ETH gas fees. CoinShares’ CEO shares this attitude, predicting a poor outlook for Ethereum ETF approval this year, if ever.
