The price of Bitcoin recently dropped below $35,000 following Wall Street’s market opening, while Ethereum surged past $3,800. Crypto investors are keenly observing the latest happenings in the market. Numerous sources have reported on significant new developments, including a now-deleted claim regarding ETH ETF approval. However, Reuters has provided a crucial update.
What Did Reuters Report?
According to Reuters, the U.S. Securities and Exchange Commission (SEC) has requested Nasdaq and CBOE exchanges to amend specific details in their Ether files. This request was made earlier this week, signaling a potential move towards the approval of a spot ETH ETF. Reuters’ confirmation of these actions by the exchanges and potential issuers underscores the importance of these developments.
Will the ETH ETF Be Approved?
The reported activities suggest that the approval for a spot ETH ETF is increasingly likely. Notably, the SEC has not issued any negative statements regarding this matter. Moreover, there is speculation that President Biden may refrain from using his veto power on upcoming crypto legislation. Additionally, the 21st Century Crypto Act is set for a vote in the U.S. on Thursday, adding further intrigue to the situation.
Key Takeaways for Investors
- Investors should monitor the SEC’s actions closely, as these could lead to the approval of a spot ETH ETF.
- Keep an eye on legislative developments in the U.S., particularly the 21st Century Crypto Act.
- Be aware of the potential impacts of U.S. elections on crypto regulations and market behavior.
- Consider the implications of President Biden’s stance on crypto laws, as this could influence market dynamics.
If the spot ETH ETF is approved unexpectedly, it will likely be tied to upcoming U.S. elections, creating further excitement in the crypto market.