Bankless Why the Ethereum ETF is Bullish $ETH | Matt Hougan of Bitwise
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May 24, 2024 
Matt Hougan, the CIO at Bitwise, offers rich insights into the recent Ethereum ETF approval and its implications for the crypto market. He breaks down the political dynamics and bipartisan support that led to this game-changing decision. The discussion highlights expectations for capital inflows into Ethereum ETFs and how they'll attract more traditional investors compared to Bitcoin. Hougan also unpacks the complex narrative around Ethereum's appeal in traditional finance, emphasizing its innovative potential over Bitcoin's established status.
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New Era for Crypto
- The Ethereum ETF approval marks a new era for crypto.
- Ethereum leads the industry, benefiting all crypto by fighting regulatory battles.
The May Surprise
- Last Friday, ETF approval chances were near zero, according to analysts.
- A week later, approvals happened due to a rapid shift in the SEC's stance.
Political vs. Merit-Based Regulation
- The rapid ETF approval seemed politically driven rather than merit-based.
- This contrasts with the SEC's role as a merit-based regulator.