Investment bank TD Cowen: The US SEC will not approve Ethereum spot ETF in the short term

ChainCatcher news, according to The Block, TD Cowen investment bank believes that the SEC is unlikely to approve a spot Ethereum ETF in the short term, with the initial deadline for such funds set for May. Despite the recent approval of a spot Bitcoin ETF, TD Cowen expects the SEC to take a more cautious approach in approving a spot Ethereum ETF.

Analysts point out that the SEC may wait to gain experience from the Bitcoin ETF before considering the approval of Ethereum or other cryptocurrency ETFs. The investment bank stated that the waiting period for approval may not last 26 months and could occur after the U.S. elections (the 2024 U.S. presidential election is scheduled for November).