US Crypto ETFs Expected to Soar Next Year Following Ethereum ETF Approval
Key Points:
- The U.S. SEC approved spot Ethereum ETFs, following earlier approval of Bitcoin ETFs.
- Experts predict the introduction of ETFs with a basket of US crypto ETFs, potentially including Bitcoin and Ether, within a year.
- Despite the approvals, the SEC Chair emphasized continued strict regulation.
The U.S. Securities and Exchange Commission (SEC) recently approved spot Ethereum ETFs, surprising many with the swiftness of the decision.
Experts Predict Broader US Crypto ETF Offerings Within a Year
The approval follows closely on the heels of Bitcoin ETFs, which were given the nod earlier this year. According to TD Cowen’s research group, this rapid approval was somewhat unexpected but ultimately seen as inevitable once US crypto ETFs received the green light, The Block reported.
Jaret Seiberg of TD Cowen’s Washington Research Group noted that this approval arrived about six months earlier than anticipated. He speculated that the next development could be the introduction of ETFs containing a basket of U.S. crypto assets, likely featuring Bitcoin and Ether, within the next year.
Despite the approval, it is important to note that only the 19b-4 listing requests for Ethereum ETFs have been approved, not the critical S-1 registration statements. The distinction was highlighted by British multinational bank Standard Chartered. Geoffrey Kendrick, the bank’s head of crypto research, believes that it is only a matter of time before other US crypto ETFs, such as XRP and SOL, are approved.
SEC Maintains Tough Stance on Crypto Regulation and Enforcement
However, the approval of Ethereum ETFs does not signify a broader change in the SEC’s stance on cryptocurrencies. SEC Chair Gary Gensler, speaking at the Investment Company Institute 2024 Leadership Summit in Washington DC on May 23, reaffirmed the SEC’s commitment to strict legal adherence regarding crypto ETF applications.
Gensler also highlighted the agency’s robust performance in court cases involving crypto players, including enforcement actions against majors like Binance, Coinbase, and Kraken for alleged securities law violations.
Despite potential challenges, TD Cowen forecasts that the SEC will maintain its Democratic majority through 2026. They predict continued litigation against crypto trading platforms that the SEC deems to be trading unregistered securities.
| 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. |
Author
News
US Crypto ETFs Expected to Soar Next Year Following Ethereum ETF Approval
Key Points:
- The U.S. SEC approved spot Ethereum ETFs, following earlier approval of Bitcoin ETFs.
- Experts predict the introduction of ETFs with a basket of US crypto ETFs, potentially including Bitcoin and Ether, within a year.
- Despite the approvals, the SEC Chair emphasized continued strict regulation.
The U.S. Securities and Exchange Commission (SEC) recently approved spot Ethereum ETFs, surprising many with the swiftness of the decision.
Experts Predict Broader US Crypto ETF Offerings Within a Year
The approval follows closely on the heels of Bitcoin ETFs, which were given the nod earlier this year. According to TD Cowen’s research group, this rapid approval was somewhat unexpected but ultimately seen as inevitable once US crypto ETFs received the green light, The Block reported.
Jaret Seiberg of TD Cowen’s Washington Research Group noted that this approval arrived about six months earlier than anticipated. He speculated that the next development could be the introduction of ETFs containing a basket of U.S. crypto assets, likely featuring Bitcoin and Ether, within the next year.
Despite the approval, it is important to note that only the 19b-4 listing requests for Ethereum ETFs have been approved, not the critical S-1 registration statements. The distinction was highlighted by British multinational bank Standard Chartered. Geoffrey Kendrick, the bank’s head of crypto research, believes that it is only a matter of time before other US crypto ETFs, such as XRP and SOL, are approved.
SEC Maintains Tough Stance on Crypto Regulation and Enforcement
However, the approval of Ethereum ETFs does not signify a broader change in the SEC’s stance on cryptocurrencies. SEC Chair Gary Gensler, speaking at the Investment Company Institute 2024 Leadership Summit in Washington DC on May 23, reaffirmed the SEC’s commitment to strict legal adherence regarding crypto ETF applications.
Gensler also highlighted the agency’s robust performance in court cases involving crypto players, including enforcement actions against majors like Binance, Coinbase, and Kraken for alleged securities law violations.
Despite potential challenges, TD Cowen forecasts that the SEC will maintain its Democratic majority through 2026. They predict continued litigation against crypto trading platforms that the SEC deems to be trading unregistered securities.
| 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. |
Other Posts
Related Posts
Latest
Former SEC Chair Appointed to New Critical Role, Not Head of SEC
Shiba Inu Price Surge Set To Make New Crypto Millionaires While This DOGE Rival Is Set For 1,200% Rally
Press Release
Shiba Inu Price Surge Set To Make New Crypto Millionaires While This DOGE Rival Is Set For 1,200% Rally
Qubetics at $0.0212: How It Compares to Polygon (MATIC) and Avalanche (AVAX) for November 2024
