We Might Be Getting an Ethereum ETF Sooner Than You Think!
TL;DR
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There are presently seven Ethereum ETF functions on the SEC’s desk.
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Many people are skeptical that we’ll see an approval this 12 months (and even subsequent 12 months), provided that it took the SEC a decade or so to approve the primary Bitcoin ETF.
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When requested concerning the dumpster fireplace that was the Bitcoin ETF approval course of, and whether or not the identical goes to occur with Ethereum, Hester mentioned this: “One other court docket case? That is not how we’ll do our approvals.” Right here’s hoping!
Full Story
Okay, let’s set the stage:
There are presently seven Ethereum ETF functions on the SEC’s desk.
The appliance with the earliest deadline is Could 23, from VanEck.
That is an thrilling potentiality, as an trade traded fund (ETF) would let people purchase/promote Ethereum by way of the inventory market and make the asset accessible to extra buyers (hopefully attracting better funding).
However many people are skeptical that we’ll see an approval this 12 months (and even subsequent 12 months), provided that it took the SEC a decade or so to approve the primary Bitcoin ETF.
Now, right here’s your dose of hopium:
SEC Commissioner, Hester Peirce (aka ‘Crypto Mother’) said that the SEC had:
“Heard from a court docket that the method we had been taking was unsuitable, within the sense of not displaying the type of consistency {that a} regulator wants to point out,”
And extra importantly, that SEC chair Gary Gensler (the issue little one on this entire course of), had “reacted accordingly.”
Now, right here’s the kicker:
When requested concerning the dumpster fireplace that was the Bitcoin ETF approval course of, and whether or not the identical goes to occur with Ethereum, Hester mentioned this:
“One other court docket case? That is not how we’ll do our approvals.”
The takeaway:
There’s renewed hope that Bitcoin may need walked – hell, crawled – by the ETF software course of, so Ethereum might run.
Fingers, toes, eyes: crossed.
