4 months ago
A bipartisan radical of US lawmakers advised the Securities and Exchange Commission (SEC) successful a May 22 missive to o.k. spot Ethereum exchange-traded funds (ETFs).
The missive signatories included Financial Committee Vice Chairman Rep. French Hill, House Majority Whip Tom Emmer, and Representatives Josh Gottheimer, Mike Flood, and Wiley Nickel.
Ethereum ETF
In the letter addressed to SEC Chair Gary Gensler, the lawmakers urged the regulator to use the aforesaid principles it utilized for spot Bitcoin ETFs to Ethereum ETF applications. They argued that this would show regulatory consistency.
The missive noted that the motorboat of Bitcoin ETPs provided a regulated and transparent concern conveyance for American investors. It besides highlighted the SEC’s committedness to capitalist extortion and acceptance of modern fiscal markets — arguing that approving an Ethereum ETF would reenforce this commitment.
The lawmakers added:
“With the Commission’s actions earlier this year, it seems a earthy progression that would not lone show consistency successful the Commission’s exertion of its standards but would besides affirm the ineligible reasoning that facilitated the spot Bitcoin ETPs decision.”
The legislators besides stated that the SEC’s marketplace surveillance and enforcement measures would mitigate concerns astir marketplace manipulation and that transparency and reporting requirements would alteration investors to marque informed decisions.
The enactment for Ethereum ETFs comes amid a shifting regulatory scenery for crypto successful the US. Recently, the manufacture has been astatine the halfway of conversations and debates, starring to the passage of bills to make regulatory clarity for the emerging industry.
‘Stay tuned’
The SEC Chair hinted that a determination connected the pending ETH ETF applications is imminent, advising marketplace observers to “stay tuned.”
Several manufacture experts anticipate the approval of these fiscal instruments aboriginal today, connected May 23.
After weeks of minimal engagement, the SEC precocious asked exchanges supporting the ETF applications to refile their 19b-4 forms with standardized language. Additionally, the SEC seems to beryllium engaging straight with imaginable issuers, arsenic companies similar Grayscale person filed updated S-1 forms this week.
The station Bipartisan propulsion for Ethereum ETF gains momentum successful Congress appeared archetypal connected CryptoSlate.
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