SEC Commissioner Hints at Reversal on Ether Spot ETF Staking Decision

IconCryptoNewsTerminal Staff17 Jul, 2024

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SEC Commissioner Hints at Reversal on Ether Spot ETF Staking Decision

SEC Commissioner Open to Revisiting Ether Spot ETF Staking Decision Pro-cryptocurrency U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has hinted at a potential reversal on the SEC's decision not to allow a spot ether exchange-traded fund (ETF) that also stakes the underlying asset. In a recent interview, Peirce stated that she "could revisit" the decision if there were a "change of heart at the White House." This suggests that political pressure could influence the SEC's stance on crypto regulation. Currently, the SEC has approved several Bitcoin futures ETFs, but no spot ETFs that allow for direct exposure to the underlying assets. Spot ETFs are seen as more desirable by some investors as they offer a more efficient and cost-effective way to invest in cryptocurrencies. If the SEC were to approve a spot ether ETF with staking, it would represent a significant step toward mainstream adoption of cryptocurrency. However, it remains to be seen whether the SEC will take such action, as it has been cautious in its approach to regulating cryptocurrencies.

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