Ethereum ETF Approval Political Narrative Looks 'Less Credible': Bernstein
Portfolio Pulse from Murtuza Merchant
Bernstein research suggests that the SEC's approval of spot Ethereum ETFs was not politically influenced, despite President Biden's recent veto of a bill aimed at overturning SAB 121. Analysts argue the decision was pragmatic to avoid legal conflicts, especially after Grayscale's legal victory over the SEC.
June 03, 2024 | 5:09 pm
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POSITIVE IMPACT
The SEC's approval of spot Ethereum ETFs is seen as a pragmatic decision to avoid legal conflicts, rather than a political shift. This suggests a stable regulatory environment for Ethereum in the short term.
The SEC's decision to approve Ethereum ETFs is viewed as a move to avoid legal issues, indicating a stable regulatory stance. This is positive for Ethereum's market perception.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Grayscale's legal victory over the SEC regarding its Bitcoin Trust conversion to a spot Bitcoin ETF likely influenced the SEC's approval of Ethereum ETFs. This could positively impact Grayscale's market position.
Grayscale's successful legal challenge against the SEC set a precedent that likely influenced the approval of Ethereum ETFs, benefiting Grayscale's market position.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80