The US Securities and Exchange Commission (SEC) has recently taken the much-anticipated step and officially approved the Bitcoin ETF, which has not been approved for years.
Grayscale CEO Michael Sonneshein He also underlined that the SEC is more likely to approve other cryptocurrency ETFs from now on. By adopting the first cryptocurrency ETF, the US actually laid the groundwork for other ETFs.
New Tip from Grayscale CEO
Although SEC Chairman Gary Gensler showed that he is still careful and meticulous about ETFs in his speech yesterday, according to Sonneshein, new ETFs are waiting at the door.
It seems that the USA may approve the Ethereum ETF in the coming dates after its approval last week.
Sonneshein, a guest on CNBC, stated that the approval of the Bitcoin ETF actually means proving that the crypto money industry is on the right track.
Expressing that the SEC will look at the idea of crypto money more easily from now on, the famous CEO gave the good news for Ethereum.
According to Sonnenshein, the Ethereum ETF will be approved much sooner as the Bitcoin ETF is approved.
The fact that the second largest cryptocurrency by total market capitalization is in line does not seem to surprise anyone.
In addition to the Bitcoin ETF, both VanEck and ProShares had previously applied for the Ethereum ETF, but were requested to withdraw their applications. However, this does not mean that the ETH ETF will not be approved.