Bitcoin critic warns of negative impact from potential Ethereum ETF approval

According to CryptoPotato, Peter Schiff, a prominent Bitcoin critic, has issued a warning about the potential negative impact on Bitcoin if the United States Securities and Exchange Commission (SEC) approves Ethereum-traded ETFs. right. This comes at a time when Bitcoin price has risen above $70,000. Spot ETFs have become a major topic in the cryptocurrency industry this year, with the SEC approving nearly a dozen Bitcoin products in mid-January after a decade of denying or delaying applications. Other countries and regions such as Hong Kong have followed suit, but the US remains the largest market. As a result, all eyes are on the SEC to see if other assets receive similar approvals #ETFEthereum