US financial firms have filed for Ethereum ETFs even as they expect the SEC to reject their applications, according to Reuters.
In a new report, Reuters claims that the U.S. Securities and Exchange Commission (SEC) is set to reject Ethereum exchange-traded funds (ETFs) next month, citing a source familiar with the matter.
A group of four people with knowledge of the matter spoke to Reuters on the condition of anonymity, and they said US entities have given up hope on an ETH ETF and expect the SEC to reject the filings.
These people said the entities have held several meetings with the SEC in recent weeks, but the meetings have not gone well as the SEC has been unresponsive and shown no interest in Ethereum ETF products.
They said this is in contrast to the Bitcoin ETF meetings that have taken place in the past, which were reportedly more contentious and involved more detailed discussions about Bitcoin products.
The sources added that SEC staff listened to the issuers but did not raise any specific concerns or ask many questions, leading the issuers to believe that the applications will be rejected.
