Regulation's Impact Halts Altcoin Surge, ETH Spot ETF Approval to Boost Investment
CryptoNewsTerminal Staff20 May, 2024
Regulation's Impact Halts Altcoin Surge, ETH Spot ETF Approval to Boost Investment
Daniel Cheung, CEO of crypto investment firm Pangea Fund Management, said via X that "altcoins have been largely rangebound lately due to overhang from regulatory overhang. Should a spot Ether ETF get approved, it would allow many more traditional funds to gain broader exposure to the asset class." Earlier, Bloomberg ETF specialist Eric Balchunas raised the probability of the US Securities and Exchange Commission (SEC) approving a spot Ether ETF in May to 75%, up from 25% previously.
