Industry insiders believe that the investigation into 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 a spot Ethereum ETF.
“It now feels very clearly like a coordinated attack on ETH and I don’t know what’s going to happen,” Travis Kling, chief investment officer at Ikigai Asset Management, said in a March 20 post.
Fox Business reporter Eleanor Terrett even suggested that the subpoena could explain why the U.S. SEC seems reluctant to engage with potential spot Ethereum ETF issuers.
The SEC’s seeming lack of engagement is one of the main reasons why Bloomberg ETF analysts Eric Balchunas and James Seyffart recently lowered their odds of approving a spot Ethereum ETF by May from 70% to 25%. (Cointelegraph) #pepepro
