The Breakdown SEC Approves ETH Spot ETF
May 24, 2024
Exploring the SEC approval process for Ethereum Spot ETFs, political pressure involved. SEC's approval of ETH spot ETF, impact on crypto industry and future approvals. Approval amid political turmoil, bipartisan initiatives for clear crypto regulations. Impact of crypto support on political dynamics, rising influence of crypto community in elections.
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Spot ETH ETF Approval
- The SEC approved spot Ethereum ETFs through a strange, last-minute process.
- This split approval process, involving 19b4 rule changes and S1 filings, was expected by analysts.
SEC's Delegated Authority
- The SEC used delegated authority, avoiding a public vote on the ETF approvals.
- This unusual move may reflect a desire to avoid public scrutiny.
SEC Approval Chaos
- The SEC’s approval process for the ETH ETF was chaotic and rushed.
- This politicized approach contradicts the SEC's mission of fair and orderly markets.