CEO of Keyrock predicted the possibility of Ethereum-ETF approval.
Kevin de Patul believes that the probability of approval of such products is more than 50%.
He also stated that there will be difficulties with the adoption of these exchange traded funds.
The probability of approval of spot Ethereum-ETFs is higher than 50%. This was stated by Kevin de Patul, CEO of Keyrock, in an interview with Cointelegraph.
The expert said that there will be difficulties with the adoption of these exchange-traded funds, which will be similar to what happened with the approval of spot bitcoin-ETFs in the US. He added that one of the main concerns is that Securities and Exchange Commission (SEC) Chairman Gary Gensler may classify Ethereum as a security.
“During previous congressional hearings, Gensler declined to answer whether he considered Ethereum a security risk, despite former SEC Division Director William Hinman rejecting the idea during his 2018 speech,” Kevin de Patul revealed.
According to Keyrock CEO, Ethereum is not a security, but “moving to a Proof-of-Stake model could make it more like a securities offering from the SEC’s perspective.”
The analyst also commented on the recent rise in the asset’s price to $3,000. In his opinion, this growth is caused by the excitement around the possible approval of applications for spot ETFs and the upcoming Dencun update.
Recall, earlier TD Cowen predicted the approval of Ethereum-ETF at the end of 2025.
