The newly approved spot Ethereum ETFs will allow investors to gain direct exposure to Ethereum, the second-largest cryptocurrency by market capitalization, without having to purchase and store the digital asset themselves.
"We're expecting it to take a couple weeks but could take longer. Should know more within a week or so!" - Bloomberg ETF analyst James Seyffart on the approval process timeline.
"Hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling..." - Bloomberg analyst Eric Balchunas on the surprising increase in approval odds for Ethereum ETFs.
Critics debate whether Ethereum should be a security or commodity, based on the Howey test criteria. Recent regulatory developments hint at Ethereum being considered more as a commodity.
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