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It looks like the SEC is gearing up to rain on Ethereum’s parade. Insiders are saying that the agency is likely to reject the pending Ethereum spot ETF applications, which could be a major blow to those hoping for a more mainstream way to invest in the second-largest cryptocurrency.
Meanwhile, Bitcoin seems to be holding steady above the $64,000 mark, but it’s not all good news on the ETF front. Outflows from Bitcoin ETFs have hit a whopping $200 million, which could be a sign that some investors are getting cold feet. Despite the hype a week after the halving and the entry of big players like Fidelity into the space, the crypto market is still subject to plenty of volatility and uncertainty.
On the regulation front, Consensys isn’t taking the SEC’s stance on Ethereum lying down. The firm is suing the agency, claiming that its classification of Ethereum as a security is a case of regulatory overreach. It’s a bold move that could have major implications for the future of Ethereum and the wider crypto space. If Consensys wins, it could open the door for more innovation and investment in the Ethereum ecosystem. If the SEC prevails, it could mean more red tape and restrictions for projects built on the platform.
- SEC likely to reject Ethereum spot ETF applications, insiders say
- Bitcoin stable above $64K while ETF outflows hit $200M
- Consensys sues SEC over Ethereum classification, claims regulatory overreach
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SEC likely to reject Ethereum spot ETF applications, insiders say
The SEC is expected to reject the pending Ethereum…
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