Co-founder of the BitMEX exchange Arthur Hayes commented on the likely approval of spot Ethereum-ETFs. He noted that this is not surprising given the pressure from the banking lobby.
Remember in the West, banksters run govts. I'm not surprised the banking lobby is going to cuck GG. $BTC ETFs are a fee bonanza. They want to centralize custody for #crypto just like every other asset. They want ETFs on anything plebs want to buy. $ETH ETF is the next step.
— Arthur Hayes (@CryptoHayes) May 22, 2024
Previously, the expert expressed concern that the participation of institutional investors could lead to irreversible changes in the Bitcoin ecosystem. Interestingly, other cryptocurrency enthusiasts agree with him.
In particular, Trezor analyst Josef Tetek said that spot Bitcoin ETFs contradict the vision of Satoshi Nakamoto.
The American regulator is due to announce its decision on Ethereum-based exchange-traded funds on May 23, 2024. Until recently, experts assessed the likelihood of launching these products as extremely low.
That all changed when the Commission requested amendments to Forms 19b-4. As a result, Bloomberg Intelligence experts increased the chances of approval of spot Ethereum-ETFs from 25% to 75%.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
