Grayscale CEO reveals why he believes the US Securities and Exchange Commission (SEC) will give approval to Ethereum ETFs after Bitcoin.

Grayscale CEO Michael Sonnenshein recently said the SEC is more likely to approve an Ethereum ETF trading on the New York Stock Exchange today after seeing the first Bitcoin ETF ProShares approved in the US on Monday, October 18th. said. . listed.

There is no doubt that this is a truly historic moment in the cryptocurrency market. The war against cryptocurrency ETFs is over. Investors can now trade Bitcoin ​​ETFs directly through their investment account (eg ROTH).

However, the approval of the first Bitcoin ETF has sparked debate in the crypto community over when Ethereum ETFs will be approved for use in Bitcoin, and Gray’s CEO believes this will happen soon.

SEC approves Ethereum ETF

On Monday, Sonnenshein attended CNBC’s Squawk Box as a guest to discuss the approval of the first Bitcoin ETF, which he considers to be an important first step in the post-SEC cryptocurrency market. The U.S. ETF has given the ETF approval, noting that the U.S. Securities and Exchange Commission (SEC) is beginning to open up to the idea of ​​a “sustainable cryptocurrency.” More cryptocurrencies

Sonnenshein pointed out that the time has come for the next Ethereum ETF to be approved, as regulators have already approved the Bitcoin ETF.

Several companies are currently applying for an Ethereum ETF launch alongside a Bitcoin ETF. The SEC has asked VanEck and ProShares to withdraw their Ethereum ETF offering when considering a Bitcoin ETF launch, but this means that no ETH ETF has yet been launched. does not mean Approved. .

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