What to expect if Ethereum ETF got approved
The U.S. House approved the FIT21 bill, clarifying the roles of the US Security and exchange commission (SEC) and Commodity futures Trading commission ( CFTC) in overseeing digital assets, favoring the more crypto-friendly CFTC.
The SEC is about to decide on spot Ethereum ETF applications. If approved, it would be a major win for crypto. However, like the spot Bitcoin ETF approval earlier this year, there might be short-term selling pressure from Grayscale's Ethereum Trust, which holds over $11 billion in ETH.
Despite potential short-term impacts, the long-term outlook for Ethereum remains positive, with spot ETFs expected to attract significant liquidity. If the SEC doesn't approve now, approval is likely within the next year.
Just In : Gary Gensler Chairperson of SEC, was later asked about the #ETHETF and he said "stay tuned ".
Let's hope for the best.
