The recent approval of Ethereum ETFs by the SEC has sparked discussions regarding the motivations behind the decision. Analysts from Bernstein doubt that political influence played a role, citing President Biden's veto as evidence. SEC Commissioner Hester Peirce emphasized that the approval was based on the existence of CME-traded Ethereum futures rather than political pressure. Some experts believe that the SEC's move aims to prevent legal issues rather than serve a political agenda. Attorney @defidefenselaw explained in an op-ed that the approval could undermine the SEC's legal arguments. The approval is also seen as a step towards legitimizing cryptocurrency and could lead to an Ethereum supply crunch, according to Integral.
ICYMI: Spot #Ethereum ETFs will legitimize crypto, lead to ETH supply crunch – Integral Read the full article 👇 https://t.co/wWdHYwGqeO https://t.co/KQyxpHNKqn
Analysts suggest SEC's approval of Ether ETFs could be to prevent legal issues, not political agenda.
Submitting this as yet another piece of evidence on why spot eth ETF approval wasn’t political… Here’s SEC Commish Hester Peirce to WSJ (important b/c SEC didn’t comment after 19b-4 approval). CME-traded eth futures = key, not some 11th hr call from Biden. via @Vlajournaliste https://t.co/2xwND7lLfC
[THE BLOCK] Bernstein analysts doubt political influence in SEC’s spot #Ethereum ETF approvals after Biden's veto $ETH
Ethereum ETF approvals could bring an end to the SEC's war on crypto, undermining the regulator's legal arguments. Attorney @defidefenselaw explains why in this op-ed—click to read: https://t.co/rD1l5sIekI