As a long-term crypto investor with a background in financial markets, I’ve witnessed the ups and downs of the cryptocurrency industry firsthand. The recent developments regarding Ethereum ETF approval have piqued my interest and raised some concerns.
According to reports, Michael Sonnenshein, the CEO of Grayscale, expresses a positive outlook regarding the potential approval of an Ethereum exchange-traded fund (ETF).
The head of the latest cryptocurrency asset manager expects the agency to do “the right thing.”
Based on U.Today’s report, I, as a researcher, discovered that Grayscale recently retracted its Ethereum futures ETF application following its delay in November. According to ETF analyst James Seyffart’s perspective, this filing was strategically used to secure a 19b-4 order from the SEC.
Based on the consensus among various analysts, I believe Grayscale’s decision to withdraw may indicate that they have no plans to file another lawsuit against the Securities and Exchange Commission (SEC) in the near future.
As a researcher looking back at financial events, I can share that last August marked a significant triumph for Grayscale in its legal battle against the regulatory agency. This victory opened the door for the approval of multiple Bitcoin Exchange-Traded Funds (ETFs) in January.
Grayscale’s GBTC recently recorded its first days of inflows after months of non-stop bleeding.
As a crypto investor, I’ve noticed the approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC). However, when it comes to Ethereum ETF applications, the general sentiment is that the SEC may reject several of them this March due to a complete lack of interaction with the issuers.
More recently, Ethereum supporter Consensys, led by Ethereum co-founder Joseph Lubin, filed a lawsuit against the SEC for classifying Ethereum as a security.
As a crypto investor, I’ve noticed that in late April, Bitcoin and Ethereum ETFs began trading in Hong Kong for the first time. However, the initial excitement surrounding their debut seemed to fizzle out rather quickly.
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2024-05-09 10:15