Max Keiser - Ethereum is a proof-of-stake scam

As we approach mid-April, tension surrounding the possibility of exchanges approving an Ethereum ETF (spot) is growing within the cryptocurrency community. Despite initial plans for May, hopes for a green light for this leading altcoin are dwindling in the face of regulator silence, notably from the SEC. Analysis and speculation persist, yet concrete details remain unclear.

The latest reports come from JP Morgan's camp, which forecasts potential legal action against the SEC if the Ethereum ETF is not approved in May. There are speculations that such legal actions could eventually compel the SEC to approve the funds.

Unexpectedly joining the discussion is renowned Bitcoin advocate and advisor to the President of El Salvador, Max Keiser, asserting that the SEC's restraint in refusing to approve the Ethereum ETF is justified. Keiser, known for his sharp criticism of alternative digital assets, has dubbed Ethereum a "proof-of-stake scam" unworthy of SEC approval.

Keiser's skepticism is echoed by other market players like VanEck and CoinShares, who also express doubts about the SEC approving the Ethereum ETF.

VanEck's CEO predicts rejection of the Ethereum ETF in May, citing a lack of specific feedback from the SEC. Meanwhile, CoinShares' head does not foresee approval for the Ethereum ETF this year.

Despite hopes for approval, much uncertainty remains, and the cryptocurrency community eagerly awaits further market developments.

*this is not a financial advice