The political environment is becoming more conducive to listing more crypto ETFs as the US elections approach,
I paved US Securities and Exchange Commission The path for the Nasdaq Stock Exchange and the New York Stock Exchange to list exchange-traded funds linked to the price of Ether, which is the original cryptocurrency of the Ethereum network, after approving files submitted by the New York Stock Exchange and Nasdaq requesting changes in the rules that would allow ETFs to be listed on the exchange. Related to the price of Ether.
This step represents an important development for the cryptocurrency industry, and the approval is seen as a major victory for the nine issuers, including “BlackRock” and “Van Eck,” which were keen to launch ETFs linked to ether after the Securities and Exchange Commission approved the…Bitcoin ETFs Last January.
The SEC’s unexpected decision came after officials asked the exchanges to quickly redact their files, a task that required compressing weeks of work into just a few days. However, the two exchanges, Nasdaq and the New York Stock Exchange, have not made any public comments regarding the approval.
Cryptocurrency industry participants were pessimistic about granting approval in May, due to the SEC’s hesitation.
However, the SEC has asked major exchange operators Nasdaq, CBOE and the New York Stock Exchange to amend their applications to list Ethereum ETFs, suggesting that the regulator may be leaning toward approving such products.
The change indicates that the political environment is becoming more favorable for the cryptocurrency industry as the US elections approach, according to Quinn Thompson, founder and chief investment officer of digital asset hedge fund Laker Capital.
