Investment bank research group TD Cowen sees Ethereum ETF approval as inevitable. And it clears the way for approval of other Crypto funds.
“This happened approximately six months earlier than we expected…but this decision was also inevitable when the US SEC approved ETF crypto Futures,” Jaret Seiberg of TD Cowen’s Washington Research Group wrote in a post. Recorded on Thursday
However, the approval does not signal an overall change in the SEC’s stance on crypto, with Commission Chairman Gary Gensler issuing a statement that He said he is “vital” to passing crypto legislation that could reduce the authority of his agency.
“The crypto industry is still about failure, fraud, and bankruptcy. It’s not because we don’t have rules or because the rules are unclear. But it is because many players in the crypto industry do not play by the rules,” Gensler wrote indeclarationIt wasn’t long before the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, or FIT 21.
“…We expect the agency will continue to prosecute crypto trading platforms that trade tokens that the agency believes are unregistered securities,” the researchers wrote.
refer : theblock.co
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