与比特币批准相比，Grayscale Exec 看好以太坊现货 ETF

Grayscale 首席法务官 Craig Salm 对以太坊现货 ETF 的批准表示乐观，认为他们的案例与比特币 ETF 一样有力。他将以太坊和比特币现货 ETF 的流程进行了比较，指出除了标的资产之外，它们是相同的。 Salm 强调了 SEC 和发行人在比特币 ETF 审批过程中的积极参与，这表明以太坊 ETF 也会出现类似的结果。他强调期货和现货市场之间的相关性，并认为投资者应该通过 ETF 投资 ETH。

Grayscale Executive Expresses Optimism on Ethereum Spot ETFs, Draws Parallels to Bitcoin Spot ETF Approval

Grayscale 高管对以太坊现货 ETF 表示乐观，与比特币现货 ETF 的批准相似

Washington, D.C. - Craig Salm, Chief Legal Officer (CLO) of Grayscale Investments, has shared his insights on the regulatory landscape surrounding Ethereum spot exchange-traded funds (ETFs), expressing confidence in their eventual approval. Salm drew parallels between Ethereum and Bitcoin spot ETFs, emphasizing the similarities in the approval process and market dynamics.

华盛顿特区 - Grayscale Investments 首席法务官 (CLO) Craig Salm 分享了他对以太坊现货交易所交易基金 (ETF) 监管环境的见解，并表示对其最终获得批准充满信心。 Salm 将以太坊和比特币现货 ETF 进行了比较，强调审批流程和市场动态的相似之处。

Salm expressed his belief that the case for Ethereum spot ETFs is "just as strong as it was for Bitcoin ETFs," which were approved by the U.S. Securities and Exchange Commission (SEC) in October 2021. He highlighted his confidence despite the ongoing uncertainty and negative speculations within the cryptocurrency industry.

Salm 表示，他相信以太坊现货 ETF 的理由“与比特币 ETF 一样强大”，比特币 ETF 于 2021 年 10 月获得美国证券交易委员会 (SEC) 的批准。尽管存在持续的不确定性，但他强调了自己的信心。加密货币行业内的负面猜测。

SEC Engagement and Approval Process

SEC 参与和批准流程

Salm shed light on the SEC's engagement with applicants in the Ethereum spot ETF situation, noting that the agency has been engaged in a positive and constructive manner in the final months leading up to the approval of Bitcoin ETFs. He emphasized that thoughtful discussions took place regarding specific aspects of the creation/redemption processes, custody arrangements, and other operational details.

Salm 阐述了 SEC 与以太坊现货 ETF 申请人的互动情况，并指出该机构在批准比特币 ETF 之前的最后几个月中一直以积极和建设性的方式进行参与。他强调，就创造/赎回流程、托管安排和其他操作细节的具体方面进行了深思熟虑的讨论。

Drawing parallels between Ethereum and Bitcoin ETFs, Salm stated that the process is identical, suggesting a potential approval. The only difference, he отметил, is that the ETF would hold ETH instead of BTC. As a result, issuers have less to interact with the SEC at this time due to the regulatory body's extensive involvement in the Bitcoin ETF approval process.

Salm 将以太坊和比特币 ETF 进行了比较，表示流程是相同的，这表明可能会获得批准。他表示，唯一的区别是 ETF 将持有 ETH 而不是 BTC。因此，由于监管机构广泛参与比特币 ETF 审批流程，发行人目前与 SEC 的互动较少。

Correlation Between Futures and Spot Markets

期货和现货市场之间的相关性

Salm expressed his support for the approval of ETH ETFs based on his belief that they should be considered commodity futures and consistent with ETH futures ETFs. He highlighted the strong connection between futures and spot markets, arguing that the existence of actively traded ETH futures ETFs provides a robust foundation for spot ETFs.

Salm表示支持批准ETH ETF，因为他认为ETH ETF应被视为商品期货并与ETH期货ETF保持一致。他强调了期货和现货市场之间的紧密联系，认为交易活跃的 ETH 期货 ETF 的存在为现货 ETF 提供了坚实的基础。

Investor Demand and Grayscale's Commitment

投资者需求和灰度的承诺

Salm asserted that investors want and deserve to be exposed to Ethereum through ETFs, emphasizing Grayscale's belief that the case for spot Ethereum ETFs reflects similar strength as spot Bitcoin ETFs. Grayscale remains committed to working with the SEC to advance the approval of these products.

Salm 断言，投资者希望并且应该通过 ETF 接触以太坊，并强调 Grayscale 相信现货以太坊 ETF 的情况反映了与现货比特币 ETF 类似的实力。 Grayscale 仍致力于与 SEC 合作以推进这些产品的批准。

Market Outlook and Approval Odds

市场前景和批准几率

Despite the optimism expressed by Salm, the approval odds for ETH exchange products have witnessed a significant decline in recent months. Data from Polymarket reveals that the odds are presently down to around 27%. This decline may reflect the broader market uncertainty and regulatory challenges faced by the cryptocurrency industry.

尽管 Salm 表达了乐观态度，但近几个月来 ETH 交易所产品的批准几率却大幅下降。 Polymarket 的数据显示，目前这一可能性已降至 27% 左右。这种下降可能反映了加密货币行业面临的更广泛的市场不确定性和监管挑战。

Conclusion

结论

Grayscale's Chief Legal Officer, Craig Salm, expressed his optimism on the approval of Ethereum spot ETFs, drawing parallels to the successful launch of Bitcoin spot ETFs. He emphasized the SEC's positive engagement with applicants and highlighted the strong correlation between futures and spot markets. While approval odds have declined recently, Grayscale remains committed to working with the SEC to advance these products and provide investors with the opportunity to access Ethereum through ETFs.

Grayscale 首席法务官 Craig Salm 对以太坊现货 ETF 的批准表示乐观，这与比特币现货 ETF 的成功推出类似。他强调了美国证券交易委员会与申请人的积极接触，并强调了期货和现货市场之间的紧密相关性。尽管最近批准几率有所下降，但 Grayscale 仍致力于与 SEC 合作推进这些产品，并为投资者提供通过 ETF 访问以太坊的机会。