Opinion: The investigation into the Ethereum Foundation may be part of a coordinated SEC attack on Ethereum

2024-03-21 06:42:38

Industry insiders believe that the investigation of the Ethereum Foundation may be part of a “coordinated attack” by regulators against Ethereum and may be used as a reason to reject or delay spot Ethereum ETFs. Travis Kling, chief investment officer at Ikigai Asset Management, said in a March 20 post: “It’s very obvious right now that it’s feeling like a coordinated attack on ETH, and I don’t know what’s going to happen.” Fox Business reporter Eleanor Terrett even said that the subpoena could explain why the U.S. SEC seems reluctant to engage with potential spot Ethereum ETF issuers. The SEC’s apparent lack of involvement is one of the main reasons why Bloomberg ETF analysts Eric Balchunas and James Seyffart recently lowered their belief that the odds of approving a spot Ether ETF by May were reduced from 70% to 25%.

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