by Lucas Kiely at Coin Telegraph
We finally have a Bitcoin spot ETF — an event few of us thought we would see in our careers — the industry has now turned to the approval of an Ether ETH $2,220 spot ETF as its next target. Those gearing up for another decade of juicy headlines, though, will be disappointed.
The approval of an ETH spot ETF is now not only certain, but imminent. While the United States Securities and Exchange Commission was able to spout nonsense for over 10 years in its various denials of its BTC equivalent, the watchdog can no longer hide behind diffuse objections to what is a patently clear commodity ETP filing.
Indeed, as was observed by Commissioner Hester Peirce in her damning indictment of the SEC’s conduct over this approval published on Jan. 10, the denials of these applications never made sense.
Rather than follow what was always a very clear process for these products, the regulator denied applications based only on “prejudice” against Bitcoin BTC$39,853 — a prejudice that was only, finally — ended by Greyscale’s lawsuit.
The result, as Peirce observed,…Continue Reading