Binance CEO Teng Evaluated The Ethereum ETF Approval.

After Bitcoin, the US Securities and Exchange Commission (SEC) opened the door to a spot #ETF for Ethereum. Binance #CEO Richard Teng interpreted this development as a turning point.

Stating that they welcomed the US SEC's approval of Ethereum spot ETFs, #Binance CEO Richard Teng said that this development is an important turning point for the crypto industry.

Teng said that this development will increase the adoption of crypto assets in traditional markets and stated that he thinks that the US market will make a significant contribution to the already active crypto asset ETFs.

There are currently 27 active ETH ETFs in the #ETF market. In addition, 32 spot Bitcoin ETFs are traded in 5 different markets. Richard Teng, who interprets the US SEC's first approval for ETH ETF trading as confirming the general acceptance of the largest altcoin, believes that the growth potential of the crypto asset ecosystem will increase in this way.

Spot Bitcoin ETFs have managed to attract significant funding of over $13 billion after being approved in the US in January. Expecting a similar trend for Ethereum ETFs, Teng stated that this acceptance will also be supported by more regulatory moves.

Thus, while optimism increases that a safer environment will be created for crypto asset trading, this strengthens the expectation that more institutional investors will step into the crypto sector.

Some commentators think that after Ethereum ETFs start trading, spot ETFs tied to other major altcoins such as Solana and XRP may also come to the fore.
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