After Bitcoin ETF, Ethereum ETF is about to become Wall Street's next cryptocurrency star Great

The approval of a spot Bitcoin ETF paved the way for an Ethereum ETF. This marks an important step forward in the adoption of cryptocurrencies in traditional financial markets. Currently, there are up to 7 Ethereum ETF applications awaiting SEC review and approval. According to experts, the SEC will approve all Ethereum ETF applications by May 2024 Grat .

At the present time, after the Bitcoin ETF has been approved and successfully entered into trading, it is difficult for the SEC to reject the Ethereum ETF. In addition, SEC Commissioner Hester Peirce also said: "The agency does not want to repeat the same mistake with the ETH ETF that would require the court to intervene like with the BTC ETF (Grayscale case)."

However, she also admitted that the nature of ETH and BTC may be very different and that the SEC still has a lot of work to do. This shows recognition and readiness for cryptocurrencies in the traditional financial market. At the same time, the approval of the Ethereum ETF also opens the door for other crypto products in the form of ETFs to be approved more easily.

However, liquidity issues may be the only obstacle for the Ethereum ETF due to the limited supply of ETH. Experts believe that this problem can be solved through new solutions in the future.

This event shows that the attitude of US regulators towards cryptocurrencies has gradually changed in a positive direction. Previously, they had continuously delayed or rejected applications for Bitcoin ETF approval since 2013 based on many reasons such as security concerns, market surveillance capabilities, without any real basis. dress. This has caused a great loss of confidence in the SEC's ability to properly supervise and be transparent. Now, with the approval of the Bitcoin ETF, cryptocurrencies appear to have gained wider recognition in the United States. Traditional investors are also starting to pay more attention and pour capital into cryptocurrencies, as shown by BlackRock's investment fund attracting nearly 1 billion USD after just one week of launch.

The size of $1 billion in assets in BlackRock's Bitcoin ETF demonstrates the great interest from institutional investors in cryptocurrencies. This also shows the growing attention from traditional investors towards cryptocurrency after it was recognized as a legitimate asset class.
With Ethereum becoming an ETF, the question of whether Ethereum is a security or not is no longer important as it has become part of the traditional financial market. The growth of cryptocurrencies will continue to create liquidity challenges but also new solutions, thereby opening up opportunities for investment and development in this sector.
Thus, the approval of Ethereum ETF is not only an important step in recognizing cryptocurrencies but also opens up many new opportunities in the traditional financial market and changes the way investors look at money. electronic.

Although there are still some challenges such as liquidity when supply is limited, the development outlook of cryptocurrencies is still very optimistic thanks to wider acceptance. The fact that the SEC will almost certainly approve an Ethereum ETF in the near future is the clearest proof of this trend.