Ethereum
BlackRock’s Secret Influence: SEC Rushes Ethereum ETF Filings
The U.S. Securities and Exchange Commission (SEC) has called on Ethereum spot ETF issuers to quickly update their 19b-4 filings, sparking speculation in the Ethereum community about the potential approval of these funds.
This triggered new developments. Here’s what you need to know.
BlackRock’s hand behind the SEC emergency
Crypto investor Lark Davis suggests that BlackRock, a major investment firm, may have played a crucial role in accelerating ETF filings. Davis’ tweet raised hopes among Ethereum investors, as the approval of Ethereum ETFs could significantly increase the adoption and market value of the cryptocurrency. THE SEC Urgent Request for updated filings indicates the progress and urgency of the regulatory process.
The approval of Ethereum ETF could have a major impact on the cryptocurrency market, especially for Ethereum investors. This would validate Ethereum as a legitimate asset and drive wider adoption. Davis believes BlackRock’s influence could be a key factor behind the regulatory push.
Differentiating Ethereum Types: Insights from Galaxy Research
Galaxy researcher Alex Thorn offers new insights into the SEC’s approach to Ethereum ETFs. He suggests that the SEC could treat Ethereum (ETH) and staked Ethereum (stETH) or “staking as a service ETH” as separate securities.
This differentiation could align with ongoing SEC legal proceedings, allowing the approval of Ethereum ETFs while maintaining their current regulatory position.
Industry reactions
Crypto investor Anthony Pompliano sees the approval of an Ethereum ETF as a major milestone for the cryptocurrency sector, signaling broader acceptance. Market analysts at QCP Capital predict significant price changes for ETH based on the SEC decision. Approval could push prices above $4,000, potentially reaching $5,000, while denial could see a drop to $3,000.
Also discover: Why did the price of Ethereum (ETH) increase today?
The SEC is urging issuers to update their Ethereum ETF applications, suggesting approval is imminent.