Craig Salm, Grayscale’s Chief Legal Officer, has expressed optimism regarding the approval of spot ether exchange-traded funds (ETFs), despite concerns over the US Securities and Exchange Commission’s (SEC) apparent silence. Salm, on X, highlighted the thorough discussions and positive engagement with the SEC during the final phases before the approval of Bitcoin ETFs. He emphasized that the groundwork laid for Bitcoin ETFs—covering aspects like creation/redemption procedures and custody—applies equally to ether ETFs, suggesting less need for extensive engagement this time around. However, Alex Thorn of Galaxy Digital views the approval of a spot ether ETF by May as “extremely unlikely,” citing recent SEC actions that might indicate a move to classify ether as a security. This skepticism follows shortly after the SEC postponed its decision on Grayscale’s ether futures ETF to May 30, sparking further debate on the future of cryptocurrency regulation.

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