SEC wants to postpone ETH spot ETF to December?

‍ According to Bitwise Chief Investment Officer Matt Hougan, the SEC (U.S. Securities and Exchange Commission) is considering delaying the approval of the highly anticipated Ethereum ETF.

This development comes after Bitwise Asset Management plans to list a spot Ethereum ETF.

Bitwise launched a spot BTC ETF - BITB on January 11. Since then, the ETF has been on a meteoric rise, amassing over $2 billion in assets and ranking fifth in the so-called “Cointucky Derby.”

Hougan shared insights into the explosive growth of BITB and other spot ETFs, highlighting their unprecedented growth compared to historical ETF issuances.

Hougan emphasized: “These (spot BTC ETFs) are the fastest growing ETFs in history, and the growth rate is a lot faster.”

I believe that the fastest growing ETFs before this The ETF is QQQM, and it went from zero to $5 billion in one year. These spot BTC ETFs have netted more than $10 billion in less than two months.

Despite the success of the BTC ETF, Hougan warned that the approval of the Ethereum ETF may be delayed.

This stems from regulatory caution due to growing interest in Crypto asset investments and complex market dynamics.

But Gougan also expressed confidence that the Ethereum ETF will eventually be launched. However, he predicted that delaying it to later this year could benefit the market by giving traditional finance more time to understand and accept crypto assets.

Hougan explained: “We believe this is the natural path that crypto asset investors have been following for 15 years. They started with BTC and have always wanted to get exposed to other things.”

“I think Ethereum will be very attractive. And the Ethereum ETF launching in December will be more successful than launching in May. I know it sounds silly, but I think traditional finance is still Digest BTC, and if you give them time to get used to BTC and Crypto assets, they'll be ready for the next thing."

Following the huge success of the BTC ETF, this strategic patience may It will pave the way for institutional and retail investors to enter the Ethereum market more robustly and wisely.

Hougan’s insights reveal a significant shift in perceptions of the Crypto asset, from skepticism to recognition of its potential for substantial investment returns.

As the SEC weighs its decision, the cryptoasset community remains on edge, hoping for a green light that will further legalize and promote investment in Ethereum and beyond.

The above is the detailed content of SEC wants to postpone ETH spot ETF to December?. For more information, please follow other related articles on the PHP Chinese website!