SEC’s Ethereum Futures ETF Approval: A Resounding Victory For ETH’s Security Status? | Headlines | News | CoinMarketCap
08/19/2023 07:09
According to Bloomberg, in a key development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is reportedly set to …
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Published on August 19, 2023 00:00 GMT+00:00edited on August 19, 2023 00:04 GMT+00:00
According to Bloomberg, in a key development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is reportedly set to allow the launch of exchange-traded funds (ETFs) based on Ethereum (ETH) futures.
This move marks a significant win for numerous firms that have long sought to introduce such products. While the SEC has previously hesitated to approve ETFs directly tied to cryptocurrencies, the decision to greenlight an Ethereum futures ETF could have profound implications for Ethereum’s classification as a non-security.
This development also holds potential ramifications for other cryptocurrencies, as the SEC’s stance on where the line between security and non-security lies becomes a subject of litigation.
Ethereum Paradigm Shift
According to …