4 months ago
9 ARTICLE AD
Through a recent letter, five House Financial Services' members cite SEC’s previous bitcoin fund approvals in their letter to Gensler.
A bipartisan group of US lawmakers sent a letter to the SEC urging the approval of spot Ethereum exchange-traded funds (ETFs), as reported by Politico. The group consists of five members of the House Financial Services Committee, two Republicans and three Democrats, and is led by Rep. French Hill.
The letter mentions the approval of spot Bitcoin ETFs in January, claiming that it represents “a pivotal moment for both digital assets and our financial markets.”
“With the commission’s actions earlier this year, it seems a natural progression that would not only demonstrate consistency in the commission’s application of its standards but would also affirm the legal reasoning that facilitated the spot Bitcoin ETPs,” the lawmakers wrote in the letter.
Moreover, when urging the regulator to maintain a “consistent and equitable approach when reviewing upcoming applications,” the US lawmakers used “other digital asset-backed ETPs” instead of focusing on the Ethereum ETF matter.
Bloomberg ETF analyst Eric Balchunas highlighted this choice of words via an X post and added that this might be an indicator of more ETF applications related to other crypto.
“Will be interesting to see how far and how quickly the ETF industry pushes envelope (which is something its good at). Wouldn’t be surprised if they pounce on SEC vulnerability and file all kinds of coins (kinda like they have in Europe) to test the limits.”
The final deadline for the first spot Ethereum ETF application ends today, prompting the SEC to give a clear stance on these investment instruments.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
