The SEC approved the Bitcoin Spot ETF after years of rejections. Many feel this is opening the door for other approvals.
In this video I discuss how the idea of a quick approval on an Ethereum Sport ETF might not be forthcoming. JPM is even giving it only a 50/50 chance of taking place by May.
▶️ 3Speak
Well probably we might be seeing Ethereum spot etf but the truth is I don't see it been achieved this year. If fact I see it coming to past around late this year if at all it will be happening this year
From what I've learned with the BTC ETF fiasco, the ETH ETF approval rests on whether the big corporations have already finished positioning for it. If they have already bought enough assets. ETH is already too big for them to not consider an ETF of it. What I wonder is, where will the other investors money go once it gets approved. Once BTC ETFs were approved, I felt like a lot of investors started accumulating ETH.
Summary:
In this video, the speaker discusses the potential of an Ethereum Spot ETF following the recent approval of a Bitcoin Spot ETF. The speaker mentions JP Morgan's report, which gives an estimated 50-50 chance of an Ethereum ETF being approved by the beginning of summer. The speaker delves into the similarities and differences between Bitcoin and Ethereum ETFs, emphasizing that the process and requirements are likely to be similar. Additionally, the speaker critiques potential justifications the SEC might use to deny an Ethereum ETF approval, particularly concerning the classification of Ethereum as a security. The video concludes with the speaker expressing doubts about an Ethereum ETF boosting the market and reflecting on the recent performance of Bitcoin post-ETF approval.
Detailed Article:
The video opens with the speaker addressing the audience and introducing the topic of discussion: the Ethereum Spot ETF. The speaker highlights the anticipation surrounding this ETF following the approval of the Bitcoin Spot ETF, which initially led to a market sell-off instead of the expected bull run. The mention of Grayscale selling significant amounts of Bitcoin is made, dismissing it as the sole reason for market movements due to the volume of Bitcoin's liquidity.
Moving on, the speaker talks about the potential approval timeline for the Ethereum ETF, referencing a JP Morgan report indicating a 50-50 chance of approval by early summer. The comparison between the Bitcoin and Ethereum ETF applications is brought up, suggesting that the groundwork laid by Bitcoin ETF applicants could ease the process for Ethereum applicants due to similar SEC requirements.
The speaker then delves into the SEC's perspective, questioning potential grounds for rejecting an Ethereum ETF. Criticism is directed at perceived flawed arguments from regulators, such as viewing all cryptos other than Bitcoin as securities, including Ethereum. The speaker argues that since both Bitcoin and Ethereum ETFs would be regulated entities, the classification as a security does not inherently disqualify Ethereum from ETF approval.
Further exploration is done on the distinctions between securities and commodities in the realm of ETFs, provoking consideration on whether such categorizations might impact approval criteria. The speaker stresses the importance of observing the performance of Bitcoin ETFs before expecting an Ethereum ETF approval, suggesting a cautious regulatory approach to avoid prematurely opening the floodgates.
The video concludes with the speaker expressing skepticism about an Ethereum ETF sparking a bull market. The irony of market reactions post-Bitcoin ETF approval is highlighted, with the speaker reminding viewers that market movements are unpredictable and not an exact science. The video wraps up with a well-wishing sign-off, leaving viewers with food for thought around the complexities and uncertainties surrounding the potential Ethereum Spot ETF approval.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.