Spot Ether ETFs receive official approval from the SEC \ stacker news ~bitcoin

This was about 3 weeks ago.

Surprising that he didn’t understand that since the SEC had already approved the Ethereum futures ETF, its hands were tied to also approve the spot ETF (or else get sued and probably lose like with the Grayscale conversion case).

Also, he should have known that bankers wanted an Ethereum spot ETF because of all their “real-world asset” stuff and bankers tend to get what they want from the SEC.

0 sats \ 0 replies \ @BlokchainB 23 May

😂

40 sats \ 1 reply \ @HardMoney 23 May

Fiats best chance of attacking bitcoin is by muddying the waters and embracing “crypto”. Should be interesting to see how rebuilding a broken system on top of quicksand works out for them.

0 sats \ 0 replies \ @machuPikacchu 24 May

One way to keep CPI down is to give people more speculative assets to park their excess fiat. It might be less of an attack on bitcoin and more of a short term survival tactic for fiat currency.

21 sats \ 0 replies \ @AtlantisPleb 24 May

The 19b-4 filings were approved by one SEC division, not the S-1s needed to start trading (see https://x.com/JSeyff/status/1793752733763445043) - apparently could take weeks/months or still be rejected

21 sats \ 0 replies \ @kingzing131 24 May

Yeah it's not surprising. I know there's quite a few big banks and companies using it for quite a few things like RWA, so I am plenty sure there are lots of lobbying in the back.

Shame this happened, the floodgate is now opened. All the other shitcoins will follow soon, SEC will find itself being challenged by all the shitcoins etf application.

50 sats \ 3 replies \ @BlokchainB 23 May

Good luck to all those investors who plow money into eth.

Let the free market decide! People always say this but yet people are upset that the SEC approved this? Willfully ignoring all the other dogshit stuff the SEC deems “safe” for investment.

10 sats \ 2 replies \ @orthwyrm 24 May

agreed. people obsessing over ETH's status as a security rubs me the wrong way. i mean, it kind of is, but that shouldn't prevent people from holding proxies of it in their investment accounts if they want to.

50 sats \ 1 reply \ @machuPikacchu 24 May

ETH is trash, but its status as a security is kind of irrelevant. Apple stock is a security and people invest in it no problem. At the end of the day the Ethereum foundation is just a company and their product is overpriced, relatively low utility compute credits.

0 sats \ 0 replies \ @orthwyrm 24 May

agreed!

21 sats \ 0 replies \ @cryotosensei 23 May

May be due to a new US draft bill aimed at regulating stablecoins since it allows US banks to obtain stablecoin licenses and private companies to issue up to $10 billion in stablecoins without a license.

0 sats \ 1 reply \ @IamSINGLE 24 May

Okay, the next one will be a Doge eating grass because it wanted to poo green.

So, here I see people discussing that it xhould be mandatory ffkm now that Doges must eat grass, lest SEC ignore them. WTF!! https://coinmarketcap.com/community/articles/664f0113a132e15597ed0c15/

0 sats \ 0 replies \ @konstantin21 24 May

i understood a few of those words!

0 sats \ 1 reply \ @025738dda8 23 May

Could Ether become the US's CBDC?

0 sats \ 0 replies \ @zarko 24 May

i've heard Brazilian CBDC(Drex) is a ERC20 smart contract

0 sats \ 0 replies \ @ek 23 May

The removal of staking is the most notable amendment seen across several filings.

I guess they consider ETH a commodity if staking is disabled.

But does that mean the funds can't stake the ETH or only that the proceeds of staking won't go to the ETF holders?

0 sats \ 0 replies \ @Satosora 23 May

Ether ETF? I wonder how much the inflow for that will be? Big pump and dump coming!

0 sats \ 0 replies \ @OneOneSeven 23 May

0 sats \ 0 replies \ @030a29f333 23 May

ETH further centralizes, yay!

0 sats \ 0 replies \ @Muuny 23 May

RIP