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SEC Likely to Reject Spot Ether ETFs in May, Says Van Eck The U.S. Securities and Exchange Commission (SEC) faces a May deadline to decide on the approval of spot Ethereum exchange-traded funds (ETFs), including applications from asset managers Vaneck and Ark Invest led by Cathie Wood. Several spot bitcoin ETF issuers, including Blackrock, the world’s largest asset manager, and Fidelity, have also filed to launch a spot ether ETF. Vaneck CEO Jan Van Eck told CNBC at the Paris Blockchain Week event Tuesday that he does not expect the SEC to approve spot ether ETF applications in May. He said: We were the first to file as well for ethereum in the U.S., and we and Ark, Cathie Wood, are kind of the first in line for May, I guess, to probably be rejected. “The way the legal process goes is the regulators will give you comments on your application, and that happened for weeks and weeks before the bitcoin ETFs, and right now, pins are dropping as far as Ethereum is concerned,” Van Eck added. The prospects for SEC approval of spot ether ETFs are facing increasing doubt. JPMorgan, for example, said last week that the SEC will likely approve spot ethereum ETFs after it rejects the applications in May and faces subsequent litigation, similar to what happened with the Grayscale Investments and Ripple legal battles last year. Coinshares CEO Jean-Marie Mognetti also expressed pessimism about the likelihood of such approval in the near future. He told CNBC on Tuesday: “We are observing the ethereum decision very, very closely.” Indicating that it may be difficult for a proof-of-stake protocol to gain SEC approval, he opined: I don’t see anything being approved this side of the year.

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The National Institute for Economic and Social Research's estimate is even more pessimistic than those of other forecasters, who have warned that the hole in the government's finances could be about £20bn.

The latest analysis of the Crypto Assets market shows that the Bitcoin price has undergone a period of slow rise and is currently consolidating sideways near a key price level. After reaching a high of around $115,700, the Bitcoin price has retreated and is now hovering around the $115,000 region. From a technical perspective, there is clear short-term resistance, and the current price pattern exhibits a double top characteristic, which is often seen as a potential bearish signal. On the hourly chart, there have been five consecutive bearish candles, indicating that downside pressure is accumulating. Nevertheless, bullish forces are still trying to rebound, but currently show a certain degree of fatigue. Given the current market situation, investors may need to adjust their strategies. For traders looking to build positions, it may not be wise to add long positions at the current high levels. Instead, adopting a cautious approach and closely monitoring the range of $115,200 to $115,600 may be more appropriate, as this could become a potential shorting opportunity. If the short-selling pressure continues to increase, we may see the Bitcoin price pull back to the range of $113,500 to $112,500. However, investors should always pay attention to market trends, as the volatility of the Crypto Assets market often brings unexpected changes. Overall, the current market situation reminds investors to remain vigilant, operate cautiously, and always pay attention to various factors that may influence the price trend of Bitcoin. Whether choosing to wait and see or participate in trading, decisions should be made based on comprehensive market analysis and individual risk tolerance.