Top Analyst Predicts Ethereum ETFs May Miss Approval in August

Crypto expert Michaël van de Poppe has provided his insights on the likelihood of an Ethereum Exchange-Traded Fund (ETF) receiving approval in May. Van de Poppe believes the chances are low, as the deadline approaches for three leading contenders among seven applicants vying for an Ethereum Spot ETF. He also suggests that the Securities and Exchange Commission (SEC) will not classify ETH ETFs as securities, which could avoid legal battles. Instead, he anticipates that the SEC will find reasons to delay approval beyond May. However, van de Poppe sees a more positive outlook for an approval in August, with Ethereum potentially outperforming in the market. On the other hand, MicroStrategy CEO Michael Saylor is also doubtful about an Ethereum ETF approval and predicts that the SEC will classify Ethereum as a security, leading to rejections for spot ETF applications, even from industry giants like BlackRock. Saylor made these predictions public during the MicroStrategy World 2024 conference and warned of potential issues for other cryptocurrencies like BNB, Solana (SOL), XRP, and Cardano (ADA). Despite the uncertainty surrounding an ETF, the question remains whether Ethereum is a long-term winner.