SEC Approval of Ethereum Spot ETF: Cryptocurrency's Final Hurdle?
CryptoNewsTerminal Staff21 May, 2024
SEC Approval of Ethereum Spot ETF: Cryptocurrency's Final Hurdle?
The U.S. Securities and Exchange Commission (SEC) may finally approve a spot Ether (ETH) exchange-traded fund (ETF), according to Pomp Investments founder Anthony Pompliano. If approved, this would be a major step for the crypto industry, making it easier for investors to trade ETH. It would also be a sign that the SEC is becoming more comfortable with cryptocurrencies. So far, the SEC has only approved futures-based ETFs. These ETFs track the price of ETH futures contracts, which are not the same as spot prices. A spot ETH ETF would track the actual price of ETH, which would be more attractive to investors. The approval of a spot ETH ETF would likely lead to increased investment in ETH and other cryptocurrencies. It could also help to legitimize the crypto industry and make it more appealing to mainstream investors. However, it is important to note that the SEC is still considering the approval of a spot ETH ETF. There is no guarantee that it will be approved, and it could still be some time before a decision is made.
