Approval of a spot ether (ETH) exchange-traded fund (ETF) in the U.S. will be seen as significant regulatory relief for the crypto sector and raise expectations for ETH's rival SOL to be categorized as a commodity, broker Bernstein said in a research report on Tuesday.
Long term, we do believe, should Trump get elected, crypto could see significant legislative and agency support (with a new SEC chair), to usher in long-lasting structural changes in crypto financial integration, analysts Gautam Chhugani and Mahika Sapra wrote.
More tactically, the Ethereum ETF approval would set the precedent for a first non-Bitcoin blockchain asset to be considered a commodity, raising hopes for Ethereum's peers (Solana likely) to follow the same path, analysts added.
Ether surged higher earlier in the week after two well-followed Bloomberg ETF analysts upped the odds of the SEC approving spot ether ETFS to 75% from 25% and after reports that the regulator had abruptly asked applicants to update their filings, signaling that an approval was more likely.
#eth-etf #regulatory-impact #cryptocurrency-classification #sec-approval #trump-administration-impact
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