U.S. regulators will likely reject Ethereum (ETH) spot ETFs – and crypto won’t put up much of a legal fight for it, according to Bloomberg ETF analyst Eric Balchunas.
The analyst’s latest take is a discouraging sign for Ethereum bulls and stands in stark contrast to his former optimism about Bitcoin spot ETFs preceding their January approval.
Are Ethereum ETFs Worth Fighting For?
In a Wednesday tweet, Balchunas addressed a common theory that the crypto industry will sue the Securities and Exchange Commission (SEC) if it refuses to approve ETH spot ETFs by May, which is its final deadline to deliver a verdict for several applicants.
“I would question this as Ether futures only ETFs have 4% of the assets that bitcoin futures have,” Balchunas wrote. “That’s a lot of time and money for something that may only get a fraction of the aum.”
The ProShares Bitcoin Strategy ETF (BITO) – the nation’s first Bitcoin futures ETF – hauled $1 billion within its first two days of l
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