隨著最後期限的臨近，以太坊 ETF 的批准搖搖欲墜：加密貨幣社群處於邊緣

隨著以太坊交易所交易基金（ETF）等待美國證券交易委員會的批准，投資人在延誤和混雜的訊號中變得越來越憂心忡忡。美國證券交易委員會對於將以太坊歸類為證券或商品的猶豫不決阻礙了審批過程。儘管比特幣現貨 ETF 在獲得批准後最初出現了樂觀情緒，但由於 SEC 最近對加密貨幣交易所對以太坊的指定進行了調查，以太坊 ETF 獲得批准的可能性已降至 50% 左右。

Ethereum ETF Approval Hangs in the Balance as May Deadline Looms

五月截止日期臨近，以太坊 ETF 的批准懸而未決

As the eagerly anticipated deadline for the Securities and Exchange Commission's (SEC) decision on the Ethereum Exchange Traded Fund (ETF) draws near, a palpable sense of anxiety hangs over the cryptocurrency community. The delay in the SEC's approval, despite the successful launch of Bitcoin Spot ETFs, has raised concerns over the fate of Ethereum's ETF prospects.

隨著美國證券交易委員會 (SEC) 對以太坊交易所交易基金 (ETF) 做出決定的最後期限日益臨近，加密貨幣社群籠罩著明顯的焦慮感。儘管比特幣現貨 ETF 已成功推出，但美國證券交易委員會 (SEC) 的批准仍被推遲，引發了人們對以太坊 ETF 前景的擔憂。

Delays and Confusion Plague Ethereum ETF Decision

延誤和混亂困擾以太坊 ETF 決策

For months, the SEC has remained conspicuously silent on the Ethereum ETF, leaving investors in a state of limbo. Initially touted as a near certainty, the chances of approval have dwindled in recent weeks, with some estimates hovering around a mere 50%.

幾個月來，美國證券交易委員會對以太坊 ETF 一直保持沉默，讓投資者陷入了困境。最初被吹捧為幾乎確定的事情，但最近幾週獲得批准的機會已經減少，有些人估計只有 50% 左右徘徊。

The root of the delay lies in the ongoing debate over Ethereum's classification as a security or a commodity. Unlike Bitcoin, which the SEC has explicitly designated as a commodity, Ethereum's status remains uncertain. This ambiguity has hindered the SEC's ability to make a clear decision.

延遲的根源在於以太坊分類為證券還是商品的持續爭論。與美國證券交易委員會明確指定為商品的比特幣不同，以太坊的地位仍然不確定。這種模糊性阻礙了 SEC 明確決定的能力。

Complicating matters further, the SEC has recently launched investigations into cryptocurrency exchanges regarding their handling of Ethereum, casting doubt on the SEC's understanding of the asset's nature.

讓事情變得更加複雜的是，美國證券交易委員會最近對加密貨幣交易所對以太坊的處理展開了調查，這讓人們對美國證券交易委員會對該資產性質的理解產生了懷疑。

Hope Amidst the Uncertainty

不確定性中的希望

Despite the pessimism surrounding the Ethereum ETF, there are still glimmers of hope. Craig Salm, Grayscale's chief legal officer, remains optimistic about the ETF's prospects. He believes that investors "want and deserve access to #Ethereum in the form of a spot Ethereum ETF," and that Grayscale has a "just as strong" case for approval as it did for the Bitcoin Spot ETF.

儘管圍繞以太坊 ETF 的悲觀情緒仍然存在，但仍有一線希望。 Grayscale 首席法律長 Craig Salm 對 ETF 的前景仍然樂觀。他認為，投資者“希望並且應該以現貨以太坊 ETF 的形式進入 #Ethereum”，並且 Grayscale 擁有與比特幣現貨 ETF 一樣“同樣強大”的批准理由。

Salm's positive outlook stems from the SEC's prior engagement with Grayscale regarding the Bitcoin ETF, where constructive discussions were held on various aspects of the ETF's structure.

Salm 的積極前景源於 SEC 先前與 Grayscale 就比特幣 ETF 的接觸，其中就 ETF 結構的各個方面進行了建設性討論。

Bloomberg Analysts Dampen Expectations

彭博分析師下調預期

However, Bloomberg analysts have taken a more cautious approach, reducing their approval prediction from 35% to 25%. They cite the absence of bullish indicators that were present during the Bitcoin ETF approval process.

然而，彭博社分析師採取了更為謹慎的態度，將支持率預測從 35% 下調至 25%。他們指出，比特幣 ETF 審批過程中缺乏看漲指標。

James Seyffart, a prominent Bloomberg analyst, has also predicted three additional delays in the approval timeline.

彭博社著名分析師詹姆斯·塞法特 (James Seyffart) 也預測批准時間表將再出現三次延遲。

Impact on Ethereum Price

對以太幣價格的影響

The uncertainty surrounding the Ethereum ETF has had a noticeable impact on the asset's price. Negative news has weighed heavily on the market, but the price has recently shown signs of recovery, targeting $4,000 or above.

圍繞以太坊 ETF 的不確定性對該資產的價格產生了顯著影響。負面消息給市場帶來沉重壓力，但近期價格出現回升跡象，目標指向4,000美元或以上。

May 23: The Day of Reckoning

5 月 23 日：清算日

Despite the swirling speculation and delays, the SEC's deadline of May 23rd remains unchanged. On that day, the fate of the Ethereum ETF will be decided.

儘管猜測不斷，拖延不斷，SEC 5 月 23 日的最後期限仍然沒有改變。在那一天，以太坊ETF的命運將被決定。

In conclusion, the Ethereum ETF approval process has been marked by protracted delays and confusion. While some remain optimistic about a positive outcome, the SEC's silence and ongoing investigations have cast a shadow over the ETF's prospects. As the May 23rd deadline approaches, the cryptocurrency community anxiously awaits a resolution to this saga that has captivated the industry.

總而言之，以太坊 ETF 的審批過程一直存在長期拖延和混亂的情況。儘管有些人仍然對積極結果持樂觀態度，但美國證券交易委員會的沉默和正在進行的調查給 ETF 的前景蒙上了陰影。隨著 5 月 23 日截止日期的臨近，加密貨幣社群焦急地等待著這個令整個產業著迷的傳奇事件的解決方案。