ETH ETF Approval Secret

Bitwise’s Executive Reveals ETF Approval Secret

Dowling came up with these remarks while speaking on the prospects of spot Bitcoin and Ethereum ETFs, of which he is the general counsel and Chief Compliance Officer of Bitwise. She claimed that she was equal to being taken aback by the approval that SEC has given to these new financial products. The approval of spot Ethereum ETFs submitted the previous week came as a shock to many market players. People generally anticipated that the SEC’s reaction would be negative towards these applications. Opinion has it that political shifts jeopardized the SEC’s decision making process particularly with respect to the Biden administration to act more sympathetic to the burgeoning industry ahead of the looming election.

ethereum etfs

At the moment, the possible grounds for the spot Ethereum ETFs are the forms 19b-4 approved by the SEC. However, before the trade can begin, companies like Bitwise, BlackRock, as well as Fidelity have to submit their S-1 forms with the SEC. It is currently unclear how long the S-1 phase may take, with estimates pointing to several weeks or even months potentially hindering trading the stocks.

It can be summarized that the approval of spot Ethereum ETFs has introduced a new progressive change in the cryptocurrency market. Interestingly, political players as well as most recent regulative shifts seem to signal something entirely opposite to the bleaker outlook of digital assets.

Disclaimer: The information provided by CryptopianNews is for educational and informational purposes only. It should not be considered financial or investment advice. Cryptocurrency markets are highly volatile and speculative, and investing in them carries inherent risks. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

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