Bloomberg’s ETF expert James has offered an extensive evaluation of the recent approval of the Ethereum ETF, marking a significant milestone in the cryptocurrency sector. This development is expected to spark a new rally phase for various altcoins. But what are James’ latest insights, and how might this event affect the ongoing XRP case?
Ethereum ETF Approval Completed
Many investors are drawing parallels between the current Ethereum ETF approval process and the previous Spot BTC ETF approvals. Despite the approval, the funds are not yet trading on the stock markets, unlike the BTC ETFs, which started trading immediately after their approvals. The delay stems from incomplete procedural steps, with S-1 Form approvals expected to arrive within the next few weeks, delaying the ETH ETF trading.
James explained that the approval was granted through delegated authority, avoiding a public commissioner vote. This means that although any commissioner, like Crenshaw, could object and request a review, the approval stands as finalized. The absence of a public vote leaves ambiguity around the decision-makers and their votes, but James believes the outcome wouldn’t change even with a review.
What Will Happen to the XRP Coin Case?
Political pressure likely influenced the SEC’s approval of the ETF, suggesting a potential shift in the commission’s stance toward cryptocurrencies. The SEC’s rapid decision might signal a broader softening in its approach to crypto-related cases, possibly benefiting other cryptocurrencies like XRP.
Following pro-crypto statements from former President Trump and favorable votes from Democrats, it seems strategic for the SEC to ease its stance on legal battles involving Ethereum-associated entities to maintain market stability. This shift could also positively impact the XRP Coin by creating a more accommodative regulatory environment.
Key Takeaways for Investors
– The Ethereum ETF approval, though delayed in trading, marks a crucial regulatory milestone.
– Political dynamics are influencing SEC decisions, hinting at a softer regulatory approach.
– The legal climate for Ethereum and potentially other cryptocurrencies like XRP could improve.
– Investors should monitor political and regulatory developments closely for market implications.
In conclusion, while the Ethereum ETF approval represents a significant step forward, the broader implications for the cryptocurrency market, especially regarding regulatory attitudes and legal cases, remain critical areas to watch.