Nonprofit Organization Opposes SEC Approval of ETH Spot ETF
CryptoNewsTerminal Staff18 May, 2024
Nonprofit Organization Opposes SEC Approval of ETH Spot ETF
The non-profit organization Better Markets, which has previously filed a letter to the US Securities and Exchange Commission (SEC) opposing the approval of a Bitcoin spot ETF, has now submitted a letter opposing the approval of an ETH spot ETF. The group stated that ETH is just as volatile as Bitcoin (BTC), and that approving an ETH spot ETF would be akin to approving gambling. They also said that approving an ETH ETF could pose a risk to the financial system. The first ETH spot ETF is expected to be approved by the end of May.
