Key Points:
Seyffart highlighted the SEC’s approval of Ether futures ETFs in October 2023, emphasizing that the regulatory body did not contest Ethereum’s classification during the ETF registration process with the Commodity Futures Trading Commission (CFTC). Seyffart explained, “The SEC has approved Ethereum futures ETFs. So again, Gary Gensler will not explicitly say whether Ethereum is a security or a commodity, but in their action, by approving those Ethereum futures ETFs, they’re implicitly accepting those Ethereum futures as commodities futures.”
The first Ether futures ETFs debuted on October 2, with nine funds hitting the Chicago Board Options Exchange from firms like ProShares, VanEck, Bitwise, Valkyrie, Kelly, and Volshares. Seyffart warned that the SEC might face legal challenges and be compelled to delist futures ETFs if Ether were deemed a security, as the classification determines distinct legal requirements, tax implications, and regulatory obligations.
Highlighting the potential conflict between the SEC and CFTC, Seyffart suggested, “If they call Ethereum a security, it’ll be going against their sister regulator, CFTC. That’s why I think we could see potential Ethereum ETFs approved this year as well.”
The SEC faces a critical decision deadline in May 2024 for spot Ether ETFs from VanEck, ARK 21Shares, and Hashdex, with subsequent deadlines in the following months. The outcome will shape the future landscape for Ether, as regulatory clarity becomes paramount in navigating the evolving crypto investment space.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
With the platform facing a cracked whip, Trump Media company is expanding into new business…
This website uses cookies.