Tron founder Justin Sun has expressed skepticism about the approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC). Sun believes that the SEC lacks understanding of the crypto industry, which may lead to delays or rejections of the ETF applications.
Sun emphasized the need for education and communication between the crypto industry and regulators to bridge the knowledge gap. He acknowledged the long wait for the SEC to make a decision on spot Ethereum ETF offerings, with major players like BlackRock and Fidelity facing delays in their applications.
The uncertainty surrounding the approval of spot Ethereum ETFs has created doubt within the crypto industry. Other industry leaders, such as VanEck CEO Jan Van Eck and CoinShares CEO Jean-Marie Mognetti, share Sun’s pessimism about the likelihood of approval in the near future.
Recent reports suggest that issuers of spot Ethereum ETFs are bracing themselves for potential rejections by the SEC in May. The SEC’s focus on classifying Ethereum as a security has contributed to the hesitancy and skepticism among ETF applicants.
Overall, the delay in approving spot Ethereum ETFs reflects the need for continued education and dialogue between the crypto industry and regulators to facilitate a better understanding of the technology and its potential benefits. The Importance of Regular Exercise
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