SEC is expected to approve an Ethereum spot ETF next month

The Bank for International Settlements (BIS), an umbrella organization for the world’s central banks, recently released a report revealing that 94% of surveyed central banks are exploring central bank digital currencies (CBDCs), a digital version of their national currencies.

David Hirsch, the former head of the SEC Crypto Asset and Cyber Unit, has departed the agency after nearly a decade of service, potentially signaling a shift in the direction of the SEC’s leadership and approach to digital assets.

• Ethereum spot ETFs to start trading July 2nd
• 94% of central banks considering wholesale CBDCs, says BIS
• SEC crypto watchdog resigns after nearly a decade

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SEC is expected to approve an Ethereum spot ETF next month

The road to spot Ether ETF approval has been a closely watched journey, with the SEC’s recent green light for eight 19b-4 filings marking a significant milestone. However, the final hurdle remains the approval of the requisite S-1 registration statements, a crucial step before these ETFs can commence trading on various US exchanges

The introduction of spot Ether ETFs is expected to usher in a new era of institutional investment in crypto. Standard Chartered estimates that the launch of spot Ethereum ETFs could attract a staggering $15 to $45 billion in inflows within the first year alone. This influx of institutional capital, reminiscent of the market reaction following the approval of spot Bitcoin ETFs in January, could potentially fuel a remarkable 60% rally in ETH prices, as predicted by crypto trading firm QCP Capital. [cryptobriefing]

SEC crypto watchdog resigns after nearly a decade

Hirsch departure comes at a time when the agency faces mounting pressure from lawmakers…