The expected time of the US SEC's decision on applications for spot Ethereum ETFs is already less than four hours. If we focus on the time of announcement of the decision on applications for spot Bitcoin ETFs in January.
Crypto Twitter is waiting for signals from SEC Chairman Gary Gensler to see if he will start warning about the dangers of investing in cryptocurrencies. If it starts, it means there will be approval. Again, as was the case with Bitcoin ETF.
Gensler is not sending such signals yet and time is running out. But he makes other statements about his work. Most likely in the context of the 21st Century Financial Innovation and Technology Act passed by the House of Representatives last night. Which reduces his powers in the crypto market. Gensler said the SEC has done a "good job" on litigation related to the crypto industry. Other quotes from his statements are provided by #TheBlock:
- “Crypto markets are full of scams, crypto companies do not comply with US securities laws while serving citizens.”
- “Most crypto tokens meet the classic Supreme Court test for what constitutes a security. But not all"
- “The SEC has the authority to protect crypto investors. We have the legal tools, but we need more resources."
At the same time, the head of the SEC did not comment on plans for the Ethereum ETF. Urging to “follow the news.”
Meanwhile, 5 members of the US House of Representatives sent a letter to SEC Chairman Gary Gensler urging him to approve the Ethereum Spot ETF, as the tool will offer investors access to cryptocurrency “in a regulated, transparent and secure format.”#10xResearchanalysts give a 90% chance that the SEC will approve spot Ethereum ETFs today.
