Spot Ethereum ETF With only hours left to decide Bernstein A remarkable report came from analysts.
According to Coindesk, Bernstein analysts stated that the possible ETH ETF approval would be a very important turning point for both ETH and the cryptocurrency industry.
At this point, analysts think that the approval of a spot ETH ETF in the USA will be an important move for crypto sector regulations, and this approval is an ETH rival. solanaHe said that it would increase the expectations for ‘s classification as a commodity.
Bernstein analysts Gautam Chhugani and Mahika Sapra Stating that the Biden administration may soften its stance on cryptocurrencies before the Presidential elections in November, he said:
“Longer term, if Trump is elected, we believe crypto could see significant legislative and institutional support (along with a new SEC chairman) that would lead to long-lasting structural changes in crypto financial integration.
Additionally, a possible Ethereum ETF approval would set a precedent for Ethereum, the first blockchain asset other than Bitcoin, to be considered a commodity.
This would raise hopes for Ethereum’s peers (possibly Solana) to follow suit. As a result, the chances of altcoins such as SOL being accepted as securities will increase.”
Bernstein analysts also predicted that the ETH price would rise 75% to $6,600 following a possible Ethereum ETF approval.
*Not investment advice
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