We Might Be Getting an Ethereum ETF Sooner Than You Think!

TL;DR

There are at present seven Ethereum ETF purposes on the SEC’s desk.

Many people are skeptical that we’ll see an approval this 12 months (and even subsequent 12 months), on condition that it took the SEC a decade or so to approve the primary Bitcoin ETF.

When requested concerning the dumpster hearth that was the Bitcoin ETF approval course of, and whether or not the identical goes to occur with Ethereum, Hester stated this: “One other courtroom case? That is not how we will do our approvals.” Right here’s hoping!

Full Story

Okay, let’s set the stage:

There are at present seven Ethereum ETF purposes on the SEC’s desk.

The applying with the earliest deadline is Might 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 larger funding).

However many of us are skeptical that we’ll see an approval this 12 months (and even subsequent 12 months), on condition 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’) stated that the SEC had:

“Heard from a courtroom that the method we have been taking was flawed, within the sense of not displaying the form of consistency {that a} regulator wants to point out,”

And extra importantly, that SEC chair Gary Gensler (the issue youngster on this complete course of), had “reacted accordingly.”

Now, right here’s the kicker:

When requested concerning the dumpster hearth that was the Bitcoin ETF approval course of, and whether or not the identical goes to occur with Ethereum, Hester stated this:

“One other courtroom case? That is not how we will do our approvals.”

The takeaway:

There’s renewed hope that Bitcoin may need walked – hell, crawled – by way of the ETF utility course of, so Ethereum might run.

Fingers, toes, eyes: crossed.