Why the demand of Ether not changing much despite Ether ETFs being approved?

[AGM]

Source

In the cryptocurrency space, SEC chief Gary Gensler is often hostile to crypto. He had this attitude before and still now. After recently approving spot bitcoin ETFs, the agency has now approved spot ether ETFs, but there are concerns about the specific reasons why the approval process for bitcoin ETFs and ether ETFs are different. But as far as I know SEC chief Gary Gensler has not yet agreed to comment on anything outside of the official guidelines. Ether ETFs are only approved based on voting systems and market divisions.

 Do you think that Ether's different ETF approval process is a political influence or something else?

[MrSpasybo]

In the cryptocurrency space, SEC chief Gary Gensler is often hostile to crypto. He had this attitude before and still now. After recently approving spot bitcoin ETFs, the agency has now approved spot ether ETFs, but there are concerns about the specific reasons why the approval process for bitcoin ETFs and ether ETFs are different. But as far as I know SEC chief Gary Gensler has not yet agreed to comment on anything outside of the official guidelines. Ether ETFs are only approved based on voting systems and market divisions.

Do you think that Ether's different ETF approval process is a political influence or something else?

I'm quite confused because the content of the topic is different from its title ^^
First of all, we already have ETH Spot ETF, traditional investors in the US may soon be able to trade this asset the way they are trading BTC Spot ETF. Gary Gensler's opinion is no longer important for ETH Spot ETF.

As mentioned, investors cannot yet buy or sell ETH Spot ETF, which means that money cannot flow into ETH and the market does not have additional buying pressure from ETH Spot ETF providers. At the same time, Grayscale is also holding a lot of ETH ~ 2.94M ETH and has negative inflows in the first few months, similar to BTC Spot ETF. However, I believe that ETH Spot ETF is still a great success for ETH and many POS tokens in the market, and is the driving force for a stronger bullrun.

[TomPluz]

Do you think that Ether's different ETF approval process is a political influence or something else?

There is no easy answer to this question as we are not privy of the many things going on in SEC and the kind of interactions they do with industry leaders and maybe even political figures, as what the question can be implying. I would say that maybe this is one way the Biden administration is trying to look like crypto-friendly as being the Democratic candidate this November he need to muster all the support he can get to avoid the avalanche of the surging Trump. Anyway, this is just a speculation and I am sure this can have a less probability of being true as the idea of Earth as flat. Now, instead of saying politically influenced, I would say that this spot Ethereum ETF decision is influenced by the applicants themselves which we know are really giants in their own ways financially.

Why the demand of Ether not changing much despite Ether ETFs being approved?

The answer is that it has not started yet though already approved by SEC in principle. Each applicant will be going through an individual basis system and will have to wait the necessary time needed for the whole process to come into final nod. The recent surge in ETH is the result of the news on the ETF approval but then again applicants should have been buying huge volume of ETH right now in anticipation for their business...and that is why maybe you are wondering why. One thing for sure is that maybe we should not be comparing this Ethereum ETF with that of Bitcoin ETF where demand for BTC really skyrocketed...but definitely there is no question this is going to  be game-changing for Ethereum. So let just wait for more developments and see where the market will be taking Ethereum in the next weeks and months.

[bitterguy28]

When the bitcoin ETF was approved the movement is the same as how Ethereum is acting now means this will take time , but ethereum has been moving great these past days after the etf.

and maybe another factor why Ethereum is not in that demand is the issue about its super high fees when there is congestion that make people instead of using ethereum as their crypto onhold , they are now choosing others with cheap and fast transaction details .

[koang]

Do you think that Ether's different ETF approval process is a political influence or something else?

Based on the politics, I tend to think, it will be just another partisan issue here but never mind...
People only need to realize that they don't have to fight the system but they can take control of their lives by switching to Crypto.
There might be some bumps along the road in the next few years, but whoever is betting against Crypto in the long run, will lose.

[hugeblack]

The real question is why the delay in obtaining ETF products in the United States. Compared to European markets, the United States usually approves ETF products faster than other countries, but in the case of Bitcoin, there was procrastination to the point that some investment funds filed lawsuits with the SEC.

[Hamza2424]

Hmm, Hello what when ETH ETF got approved? I haven't heard of any such news.

OP, you've quoted a meme haha on the tount of ETH not as security, but recently the stance of the SEC has changed that  now they recognize the ETH market as security. That was the reason for the major boost in the ETH price because the deadline for the first ETH ETF was approaching. Now I'm quite curious about upcoming ETF applications. 

[TomPluz]

The real question is why the delay in obtaining ETF products in the United States. Compared to European markets, the United States usually approves ETF products faster than other countries, but in the case of Bitcoin, there was procrastination to the point that some investment funds filed lawsuits with the SEC.

Yes, it took SEC to be dragged to the court for its approval of the spot Bitcoin ETFs that happened in January because in the first place SEC is adamant in its position on this issue...it does not want to get into ETF but since applicants are big names in the world of finance most especially Blackrock it got not choice but to yield to the pressure. And now with the news that spot Ethereum ETFs is given a nod, applicants are going to be individually scrutinize and approved before they can offer the same service or product to their clients. Anyway, this is a lot better than saying NO or delaying the approval due to technicalities or whatever reason SEC can easily come up.

[Faisal2202]

Do you think that Ether's different ETF approval process is a political influence or something else?

Your post is not making sense to me right now, as the news source you have provided is totally talking about the decisions and nature of the 5 people who voted back at the time of BTC ETFs and now they are concerned about ETH ETF's on the basis of nature of these 5 people who voted back then. By simple means, what the news has tried to compile is, they review the recent interviews, and statements of these 5 people (who voted) to understand their thinking and why they voted against and why not, so they could predict their next vote for ETH.

One of the voters, (Hester Peirce) showed his interest in the crypto industry, she voted for the approval of BTC back then and she seems to vote for ETH ETFs as well. Due to the involvement in the Ether community. Now can you explain a little why you think the process for both was different as I don't read any difference in the source news you provided. Plus there might be more and lesser strictness now and then, as BTC ETFs were first and ETH ETFs are second so ETHs might not have faced such difficulties to get approved.