Bobos & Wojaks

Get rich or die tryin

Approval Of A Bitcoin ETF Will Open The Way For An Ethereum ETF?

Finally, the first Bitcoin exchange-traded fund (ETF) has been authorised. As a result, Michael Sonnenshein, CEO of Grayscale Investments, believes the Securities and Exchange Commission (SEC) in the United States will be more likely to consider the establishment of an Ethereum ETF.

 

ProShares received clearance for their Bitcoin Futures ETF on October 18th, after an 8-year wait for a Bitcoin ETF in the United States.

 

It is anticipated to begin trading on the NYSE at any time. This is a watershed moment in the crypto ecosystem. Investors may now trade Bitcoin ETFs directly from their investment accounts, similar to how an ROTH works.

 

This significant achievement in the crypto world has sparked speculation about when an Ethereum ETF will be approved.

 

Michael Sonnenshein, CEO of Grayscale, discusses the approval of the first Bitcoin ETF in the United States in an interview with CNBC’s Squawk Box. During the interview, Sonnenshein remarked that the approval demonstrates that the SEC is becoming more accustomed to seeing digital currencies.

Exchange Traded Funds: Wake up to the benefits of investing in ETFs - The  Financial Express

According to the CEO, the approval of a Bitcoin ETF will open the way for an Ethereum ETF to be considered.

 

Several companies have registered for Ethereum ETFs in addition to Bitcoin ETFs. However, the SEC directed ProShares and VanEck to remove its Ethereum ETFs while the agency considered approving Bitcoin ETFs. This is not to say that Ethereum ETFs are without hope. Bitcoin ETFs are only ahead in this sense because of their extensive history of SEC filings.