Bittime - A decision that has been postponed by the Securities and Exchange Commission (SEC) has hampered the goals of the Ethereum (ETH) Exchange-Traded Fund (ETF) in the United States again.
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Several Ethereum ETF applications filed by large companies such as Ark Invest, BlackRock, and Fidelity were impacted by this delay. These delays raise doubts and uncertainty about the likelihood of regulatory approval. Listen to the explanation!
Comment from Justin Sun
The SEC's decision to postpone Ark Invest's bid review to May 2024 has some concerned about the potential approval of an Ethereum ETF. Not long ago, the SEC also postponed a decision on Franklin Templeton's application for an Ethereum ETF until June 11, 2024.
Additionally, the SEC was interested in the request for public response to the modification of the BlackRock iShares Ethereum Trust application, indicating the regulator's wariness of the crypto industry.
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Crypto Controversy
Attempts to categorize Ethereum as a security may be the cause of intense SEC scrutiny. This may impact the evaluation process of new Ethereum ETF projects.
Justin Sun, CEO of Tron, even expressed opposition to Ethereum ETF approval. He said that the immediate approval of crypto assets in May was highly unpredictable because regulators did not understand the crypto space.
Industry Anticipation of SEC Decision
Now, public opinion in the crypto community is increasingly skeptical of the ETF's approval. It's uncertain whether ETFs will be permitted, as recent relations between ETF issuers and the SEC appear to be sour. Rising tensions with regulators suggest that industry players are preparing to reject applications.
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Potential Effects on the Market
However, investors and companies are still very interested in getting a place in the Ethereum ETF threshold. Considered a major advancement, this ETF will link crypto with conventional financial products. However, the reality is that it will make investing in the crypto market more sophisticated and safe.
Hope for a Transparent Regulatory Process
The SEC's request for further public comment on BlackRock's proposed update to its ETF application indicates that the regulatory process is still in the experimental phase.
Ultimately, this move will lead to more informed and favorable regulation, but first, those working in crypto must be patient and participate proactively.
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Pay attention to the SEC Decision
As the deadline approaches, many will be waiting for the SEC's decision. If ETFs are approved by US regulators, their attitude towards crypto will become more progressive. This may pave the way for other crypto financial instrument proposals or otherwise signal that US regulators will be stricter.
How To Buy Ethereum (ETH) With Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with ETH IDR pairing.
To be able to buy ETH tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Ethereum (ETH) on Bittime.
Monitor price chart movements of Ethereum (ETH), Bitcoin (BTC), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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The Story of Ethereum: How Ethereum Became Popular
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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