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(https://cms.zerohedge.com/s3/files/inline-images/152cb80b-b857-4e68-b1ee-f85c592b.jpg?itok=o-1vCAjl)
Update 25.04.2024
Hong Kong has approved 4 new ETH ETFs, the poll concerns only the US ETFs
Update 14.02.2024 (https://www.altcoinstalks.com/index.php?topic=316144.msg1497237#msg1497237)
Franklin Templeton added as 8th ETF
An Ethereum ETF is coming sooner than you expect
Bitcoin ETFs were delayed because of politics. Now that we have clarity — along with seven deadlines between May and August — Ethereum ETFs aren't far away.
Indeed, as was observed by Commissioner Hester Peirce in her damning indictment of the SEC’s conduct over this approval published on Jan. 10, the denials of these applications never made sense.
Rather than follow what was always a very clear process for these products, the regulator denied applications based only on “prejudice” against Bitcoin — a prejudice that was only, finally — ended by Greyscale’s lawsuit.
As a really long shot, the only potential obstacle in the way of a spot ETH approval is liquidity.
Just as the size and scale of the market was a concern for a Bitcoin spot product, it will be even more so for Ethereum, whose move to proof-of-stake has further constrained the supply of ETH.
Moreover, while BTC — now used almost purely as a store of value - can be held long-term inside large investment funds, ETH is a working currency used to pay for ever-growing numbers of transactions on the highly composable chain.
https://cointelegraph.com/news/ethereum-etf-coming-sooner-than-you-expect
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I guess that after the approval of ETF for Bitcoin, the next logical step is the approval for ETF on Ethereum asset. However, just like the drama involved before the BTC-ETF approval, am sure there can even be more for Ethereum as we know that SEC is holding the leash on this thing...and its chairman is quite adamant on his strong opposition on such a facility. Now, how will SEC be convinced to work on this proposition is something really worth watching. Personally, I am not a big fan of ETF as it can be a tool to even stifle the growth of an asset and a big way to manipulate it on the market, still there are some positive feedbacks we can gain from it...and on top of that is that recognition of the asset by the mainstream financial market...meaning it can be a baptism of fire for the asset, that it is has already arrived and being clapped by those who considered it to be useless in recent years. So can there be one within 2024? I am not actually so sure of that but it can be safe to predict there can be one in 2025 most especially if Gary Gensler will out from SEC.
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I guess that after the approval of ETF for Bitcoin, the next logical step is the approval for ETF on Ethereum asset. However, just like the drama involved before the BTC-ETF approval, am sure there can even be more for Ethereum as we know that SEC is holding the leash on this thing...and its chairman is quite adamant on his strong opposition on such a facility.
Hi Tom
following article from today morning argues that given important similarities between BTC and ETH, namely ...
a) both were not listed by the SEC among the 67 coins and tokens that it claimed were “securities"
b) both are listed and regulated futures contracts on the Chicago Mercantile Exchange (CME)...
... the SEC will replicate the BTC ETFs approval process.
Morover, the article argues that Grayscale also has an ETH trust that they want to turn into an ETF, so SEC knows that a denial of that application would likely lead to another court appeal like Grayscale did with their BTC trust.
Standard Chartered Sees Ether Hitting $4,000 By May, When Ethereum ETF Is Approved (https://www.zerohedge.com/markets/standard-chartered-sees-ether-hitting-4000-may-when-ethereum-etf-approved)
According to Kendrick, the SEC’s dominant strategy for ETH ETF applications is to replicate the BTC process. This partly reflects structural similarities between the two:
- During its case against Ripple in June 2023, the SEC did not list ETH (or BTC) among the 67 coins and tokens that it claimed were “securities".
- In addition, ETH - like BTC - is a listed and regulated futures contract on the Chicago Mercantile Exchange (CME).
As a result, the bank expects pending applications for ETH US spot ETFs to be approved on 23 May, the final deadline for the first of the ETFs under consideration - the equivalent date to 10 January for BTC ETFs.
And if ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval, Kendrick expects ETH to trade as high as $4,000 by then.
(https://cms.zerohedge.com/s3/files/inline-images/ETH%20etf.jpg?itok=5YX1_C0c)
To be sure, for ETH prices to follow the same price pattern as BTC, Standard Chartered lays out three conditions that need to be met:
- First, current market expectations for the probability of a 23 May approval date would have to be low, as was the case for BTC ETFs.
- Second, the market-implied probability of approval would have to be wrong
- Third, several spot ETH ETFs would need to be approved on 23 May.
Looking beyond the ETF approval, Standard Charated believes that ETH is less susceptible to the post-approval selling that BTC has seen. This is because:
a) the Grayscale Ethereum Trust has a smaller share of overall ETH market cap than the Grayscale Bitcoin Trust (GBTC) did before ETF approval.
b) FTX holdings, and the associated forced selling pressure, have even smaller relative market cap shares of ETH versus BTC.
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I guess that after the approval of ETF for Bitcoin, the next logical step is the approval for ETF on Ethereum asset. However, just like the drama involved before the BTC-ETF approval, am sure there can even be more for Ethereum as we know that SEC is holding the leash on this thing...and its chairman is quite adamant on his strong opposition on such a facility. Now, how will SEC be convinced to work on this proposition is something really worth watching. Personally, I am not a big fan of ETF as it can be a tool to even stifle the growth of an asset and a big way to manipulate it on the market, still there are some positive feedbacks we can gain from it...and on top of that is that recognition of the asset by the mainstream financial market...meaning it can be a baptism of fire for the asset, that it is has already arrived and being clapped by those who considered it to be useless in recent years. So can there be one within 2024? I am not actually so sure of that but it can be safe to predict there can be one in 2025 most especially if Gary Gensler will out from SEC.
I believe that the ETH Spot ETF will be approved as the BTC Spot ETF.
The SEC has approved the ETH future ETF, there is no reason for them to reject the ETH spot ETF. If the SEC refuses, they will be sued by the ETF funds, and they will lose as in the case with GrayScale.
But I think the SEC will continue to delay the ETH Spot ETF until the deadline, after which all ETH Spot ETF applications will be approved in May this year. This will combine with the BTC halving and further fuel the 2024-2025 uptrend. I have no doubts about this scenario 🚀🚀🚀
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I believe that the ETH Spot ETF will be approved as the BTC Spot ETF.
The SEC has approved the ETH future ETF, there is no reason for them to reject the ETH spot ETF. If the SEC refuses, they will be sued by the ETF funds, and they will lose as in the case with GrayScale.
But I think the SEC will continue to delay the ETH Spot ETF until the deadline, after which all ETH Spot ETF applications will be approved in May this year. This will combine with the BTC halving and further fuel the 2024-2025 uptrend. I have no doubts about this scenario 🚀🚀🚀
I have no doubts about this scenario 🚀🚀🚀
👆🏻👆🏻👆🏻👆🏻👆🏻👆🏻👆🏻I think you drew those rackets for a reason.))
I also think that ETH Spot ETF and BTC Spot ETF will be held for the right time as it is a very strong motivation for strong growth.
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(https://cms.zerohedge.com/s3/files/inline-images/152cb80b-b857-4e68-b1ee-f85c592b.jpg?itok=o-1vCAjl)
An Ethereum ETF is coming sooner than you expect
Bitcoin ETFs were delayed because of politics. Now that we have clarity — along with seven deadlines between May and August — Ethereum ETFs aren't far away.
Bitcoin ETF have been delayed because of politics so what more about Ethereum when politics is around the world now?
or maybe not like Bitcoin being approved their more than 10 ETF so Ethereum ETF may be 4-5 approval.
Moreover, while BTC — now used almost purely as a store of value - can be held long-term inside large investment funds, ETH is a working currency used to pay for ever-growing numbers of transactions on the highly composable chain.
https://cointelegraph.com/news/ethereum-etf-coming-sooner-than-you-expect
lol your comparison is not fair , ethereum is now being used also as store value because lets admit everything in this market are now used as store value .
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You know, it's something that has to happen 100%. It doesn't matter what the market stage will be (at that time).
Who thinks otherwise, you think the SEC doesn't want to make money? You think they don't want to manipulate (the community)? What happened when the BTC-ETF was passed, has fully shown what we (you and I) are and will be held for in the future.
P.S. My opinion, it is not us who are given to make money - but they are trying (in all possible ways) to make money on us.
For some reason though, in the last three weeks, almost 510,000$ worth of ETH worth about 1.22$ billion has been withdrawn from well-known cryptocurrency wallets. You can see, the amount is quite not small.
According to media sources: "This significant outflow indicates strong Ethereum holder sentiment and potentially less selling pressure in the market."
(https://i.ibb.co/712KdGJ/Screenshot-5.png)
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Moreover, while BTC — now used almost purely as a store of value - can be held long-term inside large investment funds, ETH is a working currency used to pay for ever-growing numbers of transactions on the highly composable chain.
https://cointelegraph.com/news/ethereum-etf-coming-sooner-than-you-expect
lol your comparison is not fair , ethereum is now being used also as store value because lets admit everything in this market are now used as store value.
Don't lol me Bitterguy, unless you are another internet troll like that Stompix character
The author of that Cointelegraph article doesn't say ETH is not a store of value.
The difference between ETH and BTC he is pointing to, is that in his view ETH is more used "as a working currency used to pay for transactions" than BTC.
I don't have an overview about how much BTC and ETH respectively are used as working currencies (as opposed to as investments)
Do you?
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lol your comparison is not fair, Ethereum is now being used also as store value because lets admit everything in this market are now used as store value.
Yes, to be honest both BTC and ETH and even some other alts are more into acting as a store of value and with ETH like in the past it was used to get into ICO or new projects and I think it is still the same now to some degree. This does not mean that they can never be currencies too. Anyway, let's hope that ETFs for ETH can be approved this year as this might be bringing in more excitement for the coin and for the whole cryptocurrency industry. So 2024 will be known as the year of ETFs and who knows by next year there can more ETF applications for other digital assets as well and with the possibility of a new SEC Chairman things can turn rosy for all of us.
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I believe that the ETH Spot ETF will be approved as the BTC Spot ETF.
The SEC has approved the ETH future ETF, there is no reason for them to reject the ETH spot ETF. If the SEC refuses, they will be sued by the ETF funds, and they will lose as in the case with GrayScale.
I don't think this is as simple as that.
Sec considered bitcoin a commodity, while Ethereum may be considered a security. This makes some legal differences which may delay or even reject the Etf.
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I believe that the ETH Spot ETF will be approved as the BTC Spot ETF.
The SEC has approved the ETH future ETF, there is no reason for them to reject the ETH spot ETF. If the SEC refuses, they will be sued by the ETF funds, and they will lose as in the case with GrayScale.
I don't think this is as simple as that.
Sec considered bitcoin a commodity, while Ethereum may be considered a security. This makes some legal differences which may delay or even reject the Etf.
I guessed it from the start because Ethereum is part of a security and Bitcoin is a commodity.
If Bitcoin alone had a lot of drama to be accepted by the ETF and it was rejected several times by the ETF but in the end it was also approved.
Ethereum's position will also experience a push and pull in order to be approved by the ETF, thus creating a drama that will later become noisy and have an effect on the price of Ethereum, between rising and falling very quickly.
But on the positive side, I'm sure Ethereum will be approved by the ETF someday, but the process will feel very long and full of drama. This is only my view for Ethereum ETF.
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I guessed it from the start because Ethereum is part of a security and Bitcoin is a commodity.
If Bitcoin alone had a lot of drama to be accepted by the ETF and it was rejected several times by the ETF but in the end it was also approved.
~
I think Ethereum will follow bitcoin, ETF Ethereum will be approved by SEC. I heard the prediction it will happen at may this year. But We don't know the exact month. Many investors, especially Ethereum lovers are really enthusiasm to see ETF Ethereum, because bitcoin price goes up again after ETF bitcoin approved. They believe Ethereum will do the same..
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I think Ethereum will follow bitcoin, ETF Ethereum will be approved by SEC. I heard the prediction it will happen at may this year. But We don't know the exact month. Many investors, especially Ethereum lovers are really enthusiasm to see ETF Ethereum, because bitcoin price goes up again after ETF bitcoin approved. They believe Ethereum will do the same..
Oh yes? Really?? Is it true that this Ethereum ETF will be approved in May?
Can you provide relevant news regarding the Ehereum ETF that will be received in May?
I'm very excited to see something like this because I also have a bit Ethereum gwei in my Binance wallet.
At the beginning, I was very enthusiastic about the Ethereum ETF that would be received, the only problem was that I didn't know when this Ethereum ETF would be received.
And during the news journey that Ethereum will be accepted by ETF, there will definitely be a lot of bad and good news and that is the problem for me.
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I don't think this is as simple as that.
Sec considered bitcoin a commodity, while Ethereum may be considered a security. This makes some legal differences which may delay or even reject the Etf.
Everything is just our prediction, I am optimistic that the ETH Spot ETF will be approved by the May deadline. From now until then, we still need to focus on the inflow of money BTC Spot ETF and BTC Halving are very close.
ETH SPot ETF will be a big story that we need to pay attention to right after Halving.
I have no doubts about this scenario 🚀🚀🚀
👆🏻👆🏻👆🏻👆🏻👆🏻👆🏻👆🏻I think you drew those rackets for a reason.))
I also think that ETH Spot ETF and BTC Spot ETF will be held for the right time as it is a very strong motivation for strong growth.
All grounds for my judgment have been presented. If the SEC rejects the ETH Spot ETF, they will go to court with GrayScale again, I don't know what arguments the SEC will use to fight in court this time. Spot ETF and Future ETF both use the same price data because Future price closely follows Spot price.
In case the SEC intentionally does so to delay the ETH Spot ETF, large funds will not leave the SEC alone ^^
Anyway, I believe bullrun is an inevitable future in 2024-2025 ⭐️
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I think Ethereum will follow bitcoin, ETF Ethereum will be approved by SEC. I heard the prediction it will happen at may this year. But We don't know the exact month. Many investors, especially Ethereum lovers are really enthusiasm to see ETF Ethereum, because bitcoin price goes up again after ETF bitcoin approved. They believe Ethereum will do the same..
Oh yes? Really?? Is it true that this Ethereum ETF will be approved in May?
Can you provide relevant news regarding the Ehereum ETF that will be received in May?
I'm very excited to see something like this because I also have a bit Ethereum gwei in my Binance wallet.
At the beginning, I was very enthusiastic about the Ethereum ETF that would be received, the only problem was that I didn't know when this Ethereum ETF would be received.
And during the news journey that Ethereum will be accepted by ETF, there will definitely be a lot of bad and good news and that is the problem for me.
SEC will also keep delaying this approval for a long time and will try to troll as well. they know how easy money can be with approving ETF thats why they are going to troll it. but maybe this is the reason why ETH grows bit by bit already, Pelosi could be buying. She's known to be doing the insider trading.
May 23 is the date of the approval which I doubt so it will be moved to probably twice before they will approve it. and like what happen to BTC, it will first dip before going rising up again.
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I believe that the ETH Spot ETF will be approved as the BTC Spot ETF.
The SEC has approved the ETH future ETF, there is no reason for them to reject the ETH spot ETF. If the SEC refuses, they will be sued by the ETF funds, and they will lose as in the case with GrayScale.
I don't think this is as simple as that.
Sec considered bitcoin a commodity, while Ethereum may be considered a security. This makes some legal differences which may delay or even reject the Etf.
Hmm, Well rejection is another extreme that is not likely going to happen as ETH is no longer just an altcoin, The ETH is the core of DeFi, and considering how crazily the ETH network ecosystem is growing with so many L2 and other Dapps it is not likely going to happen that SEC rejects the ETH's ETF. ETH shares a significant market dominance and in a couple of months, it might grow to another level.
ETH ETF may face some delays but I'm quite confident that before Bitcoin's halving Event, ETH's ETF will get the SEC's approval. Anyway, there's still time lets wait for how SEC react's on the ETF approvals for ETH, but a spot ETF is not going to be a big deal.
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I have no doubts about this scenario 🚀🚀🚀
👆🏻👆🏻👆🏻👆🏻👆🏻👆🏻👆🏻I think you drew those rackets for a reason.))
I also think that ETH Spot ETF and BTC Spot ETF will be held for the right time as it is a very strong motivation for strong growth.
All grounds for my judgment have been presented. If the SEC rejects the ETH Spot ETF, they will go to court with GrayScale again, I don't know what arguments the SEC will use to fight in court this time. Spot ETF and Future ETF both use the same price data because Future price closely follows Spot price.
In case the SEC intentionally does so to delay the ETH Spot ETF, large funds will not leave the SEC alone ^^
Anyway, I believe bullrun is an inevitable future in 2024-2025 ⭐️
I think that they are all in the same boat and deliberately make a show with this disapproval and then approval, now they are just waiting for the moment to make more money, corruption is everywhere, somewhere it is not as visible as here, but I can suspect that it is not without it and they are all interested in making money and not in something else.
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However, just like the drama involved before the BTC-ETF approval, am sure there can even be more for Ethereum as we know that SEC is holding the leash on this thing...and its chairman is quite adamant on his strong opposition on such a facility.
So can there be one within 2024? I am not actually so sure of that but it can be safe to predict there can be one in 2025 most especially if Gary Gensler will out from SEC.
If Trump wins in November, forget Gensler :D
Within A Trump administration there would be a much more cryptos friendly SEC, but much more important a Trump administration would end Operation Choke Point 2 (https://www.altcoinstalks.com/index.php?topic=317418.0), just as they did with Operation Choke Point.
OPERATION CHOKE POINT 2.0: HOW U.S. REGULATORS FIGHT BITCOIN WITH FINANCIAL CENSORSHIP (https://bitcoinmagazine.com/print/operation-choke-point-2-0-how-u-s-regulators-fight-bitcoin-with-financial-censorship-)
“The reason that we are focused on financial institutions and payment processors is because they are the so-called bottlenecks, or choke-points, in the fraud committed by so many merchants that victimize consumers and launder their illegal proceeds,” Bresnickat explained to the club. “We hope to close the access to the banking system that mass marketing fraudsters enjoy — effectively putting a choke hold on it…”
This concerted effort, later labeled “Operation Choke Point”, targeted a wide range of business categories, including ammunition sales, drug paraphernalia, payday loans, dating services, pornography, telemarketing, tobacco sales, and government grants.
“The clandestine Operation Choke Point had more in common with a purge of ideological foes than a regulatory enforcement action”, wrote Frank Keating, a former governor of Oklahoma who served in the DOJ during the Reagan administration, in a 2018 editorial for The Hill. “It targeted wide swaths of businesses with little regard for whether legal businesses were swept up and harmed. In fact, that seemed to be the goal.”
In 2017, the Trump administration’s DOJ wrote a letter to Congress indicating that Operation Choke Point was officially over.
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I think Ethereum will follow bitcoin, ETF Ethereum will be approved by SEC. I heard the prediction it will happen at may this year. But We don't know the exact month.
Oh yes? Really?? Is it true that this Ethereum ETF will be approved in May?
Can you provide relevant news regarding the Ehereum ETF that will be received in May?
SEC will also keep delaying this approval for a long time and will try to troll as well. they know how easy money can be with approving ETF thats why they are going to troll it. but maybe this is the reason why ETH grows bit by bit already, Pelosi could be buying. She's known to be doing the insider trading.
May 23 is the date of the approval which I doubt so it will be moved to probably twice before they will approve it. and like what happen to BTC, it will first dip before going rising up again.
Well, I'm starting to guess because people from this ETF can also disguise themselves as ordinary cryptocurrency traders and register their accounts on Binance or Coinbase.
I mean, these ETF people know when Ethereum will rise when the ETF Good news is there and when Ethereum will fall in price because they are ETF people who have the Bad news, so they can know to buy at the right time when it goes down.
I think negatively because it seems like Bitcoin's tricks are like that, Bitcoin trading is played with ups and downs by ETFs people.
And now "maybe" is the time for Ethereum to be played by people from ETFs. I didn't expect something like this if it really happened.
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Franklin Templeton Joins Ethereum ETF Race
The asset manager is also one of the issuers of a spot bitcoin exchange-traded fund but hasn’t seen the same success as frontrunners BlackRock and Fidelity.
Franklin Templeton has applied for a spot Ethereum exchange-traded fund (ETF), a filing with the Securities and Exchange Commission (SEC) shows.
The asset manager joins BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco and Galaxy, and Hashdex, who have all submitted applications in recent months.
coindesk.com (https://www.coindesk.com/business/2024/02/12/franklin-templeton-joins-ethereum-etf-race/?utm_term=organic&utm_content=editorial&utm_campaign=coindesk_main&utm_source=twitter&utm_medium=social)
Thread title updated!
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Grayscale, Coinbase Sit Down With SEC Over Spot Ether ETF
Grayscale is seeking to convert its Ethereum Trust - which tracks the market price of Ether - into an ETF, similar to the conversion of its Bitcoin Trust to an ETF in January.
According to a presentation shared by the SEC, Coinbase argued that the same reasoning that led to the approval of Bitcoin ETFs should be applied to Ether since the token has “mechanisms that significantly limit ETH’s susceptibility to fraud and manipulation.”
Grayscale is also proposing a second ETF for Ether futures trading.
The main difference between spot and futures markets is that spot market assets are traded immediately, whereas, in the futures market, contracts are made to buy or sell assets at a future date for a specific price.
Several asset managers, including Invesco, Galaxy Digital, Fidelity, Franklin Templeton and BlackRock, are seeking the green light for a spot Ether ETF.
Final deadlines for an SEC decision are expected in May.
cointelegraph.com (https://cointelegraph.com/news/grayscale-coinbase-met-sec-spot-ether-etf)
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Desperate Dems Demand SEC Block All Future Crypto ETFs, Pressure Brokers Due To "Enormous Risks"
Fox Business' Eleanor Terrett posted on X last night that optimism about the SEC approving the Ether spot ETFs by May 23rd is waning:
"Based on my conversations with people familiar, meetings in recent weeks have been very much one sided, with issuers and custodians trying to rally SEC staff to get the process rolling, but staff not really engaging in meaningful ways like they did with the bitcoin spot ETF applications.
Why?
I’m told that Gary Gensler believes he already placated the industry with the approval of the bitcoin spot ETFs. Also, influential anti-crypto politicians like Sen. Warren are already angry at the SEC for approving the bitcoin ETFs in the first place and are rallying against the same thing happening for Ether.
One source tells me:
“Staff has been very hard to gauge on this and we’re not sure if anyone really knows what’s going on in their heads. But they’re going to have to start work soon if it’s going to have a shot.”
Ether has dropped on the news overnight...
(https://assets.zerohedge.com/s3fs-public/styles/inline_image_mobile/public/inline-images/bfm3933.jpg?itok=lF-X9Htw)
zerohedge.com (https://www.zerohedge.com/crypto/desperate-dems-demand-sec-block-all-future-crypto-etfs-pressure-brokers-due-enormous-risks)
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^ maybe it will take more than 1 filing for ETF approval before SEC will approve it.
so its possible its not on MAY but a month or 2 later it will be approved. there is nothing much to argue with this after all, these big names filing their ETFs can do more wonders than Lisa Warren.
institutional adoption of crypto is here already and SEC knows its going to come like it or not. they would rather see crypto rise for the future than yuan adopted everywhere that's for sure.
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^ maybe it will take more than 1 filing for ETF approval before SEC will approve it.
so its possible its not on MAY but a month or 2 later it will be approved. there is nothing much to argue with this after all, these big names filing their ETFs can do more wonders than Lisa Warren.
This is very optimistic imo.
Ethereum has been performing badly lately. I am even afraid that Solana may flip and become the 2nd cryptocurrency. Ethereum is losing users in its ecosystem and Solana is growing very fast...
An eth etf would certianly change things.
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As a really long shot, the only potential obstacle in the way of a spot ETH approval is liquidity.
Just as the size and scale of the market was a concern for a Bitcoin spot product, it will be even more so for Ethereum, whose move to proof-of-stake has further constrained the supply of ETH.
Moreover, while BTC — now used almost purely as a store of value - can be held long-term inside large investment funds, ETH is a working currency used to pay for ever-growing numbers of transactions on the highly composable chain.
This is not a small problem. This is a big problem in the structure of Ethereum itself. Since the Ethereum network depends on gas paid with ETH, this will cause a big problem for the network if huge amounts of Ethereum are stored in ETF funds in the event of approval.
I think this will be an issue for the network itself that could affect its performance and continued operation, in addition to other legal issues such as Ethereum being considered a security by the SEC.
These problems make me wonder that if approved, will the ETH Spot ETF perform like the BTC Spot ETF? Can it achieve the same success or will it falter?
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This is not a small problem. This is a big problem in the structure of Ethereum itself. Since the Ethereum network depends on gas paid with ETH, this will cause a big problem for the network if huge amounts of Ethereum are stored in ETF funds in the event of approval.
I think this will be an issue for the network itself that could affect its performance and continued operation, in addition to other legal issues such as Ethereum being considered a security by the SEC.
These problems make me wonder that if approved, will the ETH Spot ETF perform like the BTC Spot ETF? Can it achieve the same success or will it falter?
Indeed, many people will experience doubts when they see that Ethereum still has many shortcomings, such as high gas fees and unlimited Ethereum supply, which also makes Ethereum very dangerous when entering ETF trading.
However, I'm sure the SEC has carefully considered this issue and hopefully there will be good news when the ETF makes its announcement.
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I think this will be an issue for the network itself that could affect its performance and continued operation, in addition to other legal issues such as Ethereum being considered a security by the SEC.
Bingo!
"After the publication of this article, Fortune reported the SEC is seeking to classify ETH as a security, a move that would have major implications for Ethereum, an ETH ETF and crypto as a whole."
Ethereum Dumps'n'Pumps After 'Leak' About 'SEC Campaign To Classify As A Security' (https://www.zerohedge.com/crypto/ethereum-dumpsnpumps-after-leak-about-sec-campaign-classify-security)
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May 23 is the date of the approval which I doubt so it will be moved to probably twice before they will approve it.
^ maybe it will take more than 1 filing for ETF approval before SEC will approve it.
so its possible its not on MAY but a month or 2 later it will be approved.
Hi EC
it looks like you (and 33% of the poll voters) were right!
"Nevertheless, the SEC seems dead-set on slow-playing the ETH ETF and Bloomberg's James Seyfartt and Eric Balchunas have lowered their odds of approval by May 23rd notably...
(https://cms.zerohedge.com/s3/files/inline-images/ccb36325-5a46-40ca-8585-ad046d67%20%282%29.jpg?itok=A2aky5Is)
Public sentiment appears to have also fallen, with Polymarket odds for Ether ETFs being approved by the end of May dwindling to 32%, down from January’s 77% odds.
(https://cms.zerohedge.com/s3/files/inline-images/6352330a-dc93-4c1b-91eb-d8fb9d89.jpg?itok=4ChF5Ak8)
zerohedge.com (https://www.zerohedge.com/crypto/ethereum-dumpsnpumps-after-leak-about-sec-campaign-classify-security)
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lol your comparison is not fair, Ethereum is now being used also as store value because lets admit everything in this market are now used as store value.
Yes, to be honest both BTC and ETH and even some other alts are more into acting as a store of value and with ETH like in the past it was used to get into ICO or new projects and I think it is still the same now to some degree. This does not mean that they can never be currencies too. Anyway, let's hope that ETFs for ETH can be approved this year as this might be bringing in more excitement for the coin and for the whole cryptocurrency industry. So 2024 will be known as the year of ETFs and who knows by next year there can more ETF applications for other digital assets as well and with the possibility of a new SEC Chairman things can turn rosy for all of us.
that is something many does not understand but look at the whole forum and people keep talking about their holdings.
Moreover, while BTC — now used almost purely as a store of value - can be held long-term inside large investment funds, ETH is a working currency used to pay for ever-growing numbers of transactions on the highly composable chain.
https://cointelegraph.com/news/ethereum-etf-coming-sooner-than-you-expect
lol your comparison is not fair , ethereum is now being used also as store value because lets admit everything in this market are now used as store value.
Don't lol me Bitterguy, unless you are another internet troll like that Stompix character
Seriously ? you are calling a valid arguments as trolling? if you cannot carry criticism then do not post at all because this is an open forum that we can say anything as long as this is not against the rule of the forum.
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I think this will be an issue for the network itself that could affect its performance and continued operation, in addition to other legal issues such as Ethereum being considered a security by the SEC.
Bingo!
"After the publication of this article, Fortune reported the SEC is seeking to classify ETH as a security, a move that would have major implications for Ethereum, an ETH ETF and crypto as a whole."
Ethereum Dumps'n'Pumps After 'Leak' About 'SEC Campaign To Classify As A Security' (https://www.zerohedge.com/crypto/ethereum-dumpsnpumps-after-leak-about-sec-campaign-classify-security)
Nice catch mate, With this news Ethereum Developers should pay close attention and should at least resolve this issue before Ethereum enters ETF Spot. For traders, they must be able to take advantage of price movements like those that occur in Ethereum to make a profit, price movements like this are what traders are really waiting for.
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Btc spot from SEC appeared 91 days after the final deadline. We are 65 days away from the ETF-ETH deadline.
P.S. For me, the acceptance is too obvious. A matter of time, not in a month, so in a year - in any case it will happen. So there's no need to worry. And if you don't believe in it, why do you keep ETH?
(https://i.ibb.co/nChGdwd/photo-2024-03-27-09-58-38.jpg)
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It looks like in Hong Kong ETH ETFs are going to be approved.
Massive inflows from China are expected.
Will Hong Kong BTC ETFs Spark The Halving rally? (https://www.altcoinstalks.com/index.php?topic=320427.0)
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There you go
:D
(https://i.ibb.co/MGCHmqF/1.png)
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There you go
:D
(https://i.ibb.co/MGCHmqF/1.png)
Finally, China, a very firm country, can provide a statement to accept Bitcoin and Ethereum ETF, which is very good information. A bullrun might happen soon because with very strong support conditions like this, Bitcoin and Ethereum prices will immediately increase.
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Finally, China, a very firm country, can provide a statement to accept Bitcoin and Ethereum ETF, which is very good information. A bullrun might happen soon because with very strong support conditions like this, Bitcoin and Ethereum prices will immediately increase.
30 april!
The first wave of spot Bitcoin and Ether exchange-traded funds (ETFs) have been officially approved to start trading in Hong Kong on April 30 (https://www.zerohedge.com/crypto/hong-kong-bitcoin-and-ether-etfs-officially-approved-start-trading-april-30)
I think the impact of these HK ETFs should be greater on ETH than on BTC
(since these new ETFs came up, probably I have to change the title of the thread...)
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SEC Expected To Deny Spot Ether ETFs In May, Consensys Sues Over 'Security' Status
According to four people who participated, recent meetings between issuers and the SEC have been one-sided and agency staff have not discussed substantive details about the proposed products.
That is in contrast to the intensive and detailed discussions between issuers and the agency in the weeks before its landmark approval of spot bitcoin ETFs in January, said the people who declined to be identified because the talks are private.
As CoinTelegraph reports, before the historic approval, the SEC rejected spot BTC ETF filings for over a decade.
It only changed its stance after Grayscale Investments won a court victory against the securities regulator in August 2023.
...
Balchunas also mentioned that SEC Chair Gary Gensler’s stance on Ether could also impact the decision process as he has refused to give clarity on whether Ether was a security.
We have detailed the furore over the classification of Ether as a security (or not) a number of times, but today saw the situation escalated as Consensys, a major backer of the Ethereum blockchain, filed a lawsuit against the agency in Texas federal court, asking the court, among other things, to resolve one of the biggest legal uncertainties hanging over the crypto industry by stating that Ethereum’s digital token, Ether, is not a security.
Fortune's Jeff John Roberts reports that in its 34-page legal filing, Consensys uses dramatic language to argue that the SEC’s efforts to exert jurisdiction over Ethereum is both illegal and a threat to blockchain technology more broadly.
“The SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys. Every holder of ETH, including Consensys, would fear violating the securities laws if he or she were to transfer ETH on the network,” the complaint states.
“This would bring use of the Ethereum blockchain in the United States to a halt, crippling one of the internet’s greatest innovations.”
zerohedge.com (https://www.zerohedge.com/crypto/sec-expected-deny-spot-ether-etfs-may-consensys-sues-over-security-status)