Justin Sun recently made a prediction regarding the potential approval of an Ethereum spot ETF in May. This prediction aligns with the opinions of several analysts, who anticipate that the Securities and Exchange Commission (SEC) may reject spot Ether ETF applications from various issuers. However, the outlook for spot Ethereum ETFs differs from that of spot Bitcoin ETFs, which were approved in January.
In March, Bloomberg ETF analyst Eric Balchunas estimated the likelihood of a spot Ether ETF being approved in May at around 35%. He highlighted the SEC’s comparatively less proactive approach towards Ether ETF applications, especially when compared to those for Bitcoin ETFs. Balchunas also noted that SEC Chair Gary Gensler’s perspectives on Ether and his reluctance to explicitly categorize it as a security could impact the final decision.
Justin Sun, who is familiar with dealings with the SEC, was also mentioned in the context of a lawsuit filed by the SEC. The lawsuit alleged that Sun and his cryptocurrency businesses violated federal securities laws by offering and selling unregistered securities such as Tronix (TRX) and BitTorrent (BTT).
