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Popular crypto entrepreneur Justin says “SEC will not approve ETH spot ETF”

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Popular crypto entrepreneur Justin says “SEC will not approve ETH spot ETF” 2

Justin Sun said that he doesn’t think the US regulators are going to approve proposed Ethereum spot ETF applications in May.

Justin Sun is founder & owner of multiple crypto projects e.g. Tron (TRX), JustSwap (JST), Sun coin (SUN), BitTorrent (BTT), WinkLink (Win), Poloniex crypto exchange, HTX Exchange (formerly Huobi Global), etc. Justin was Permanent Representative of Grenada to the World Trade Organization. Couple of years back, Justin announced his departure from the crypto world to become a diplomat but reportedly he lost diplomatic status in March 2023. As per local media reports, Justin was stripped of his status as ambassador sometime after elections held in June 2022, when the New National Party, which granted Sun his position, was ousted by the National Democratic Congress.

On 28 April 2024, Justin Sun shared his opinion on the probability of Ethereum spot ETF applications approval chances by the United States Securities and Exchange Commission (SEC).

The ETF experts already said that the decision on these ETF products will come somewhere in May of this year.
Justin said that he doesn’t think that the SEC body is going to approve ETH spot ETF in May.
Furthermore he said that it will take a long time and in that time period the crypto community needs to show more collaboration with the government agencies, so that they can understand crypto & blockchain more perfectly.

My honest opinion (NFA) is that an Ethereum ETF won't be approved in May. The crypto industry still needs to prepare for a long-term education with regulators, focusing on helping them understand crypto. But we've always been here, haven't we?

— H.E. Justin Sun 孙宇晨 (@justinsuntron) April 28, 2024

Just a few days ago, following the ConsenSys vs SEC suit news, the ETF experts said that the odds for the approval chances for ETH ETFs changed to 20%.

Ethereum (ETH)

The current trade price of Ethereum (ETH) coin is $3,195 & this trade price is 3.7% down over the last 24 hours.

#Ethereum crashes 3.7% in the last 24 hours pic.twitter.com/AaLOi435Gh

— Bitcoinik (@Bitcoinikdotcom) April 29, 2024

Read also: Australia is preparing for significant Bitcoin ETF launches in 2024

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