Insider News: The U.S. SEC strongly rejects the idea of Ethereum spot ETF due to "internal resistance"

According to Fox Business reporter Eleanor Terrett, ETF issuers, investment management companies and insiders close to the SEC have various views on the potential timeline for approval of an Ethereum spot ETF. One source said that at this moment, the SEC's stance is "forceful rejection," but there is currently "some internal resistance" to this idea. An issuer of a BTC spot ETF who has applied for an ETH spot ETF expressed confidence that the approval and successful launch of a Bitcoin spot ETF will force the SEC to approve an Ethereum spot ETF. Others believe that the listing of ETH futures ETFs and BlackRock's record of obtaining ETF approvals make them believe that an Ethereum spot ETF could be launched by late summer. In addition, since CFTC considers ETH as a commodity and Ripple partially won in court with its argument that trading XRP on secondary markets does not constitute securities, it would mean “Gensler taking up a tough fight”. SEC Commissioner Hester Peirce stated that she doesn't want to repeat similar delay mistakes with regards to ETH EFTs. Eleanor Terrett concluded if SEC staff delve into S-1 files deeply, some progress should be seen in upcoming months.