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Arthur Hayes is confident in the approval of spot Ethereum ETFs

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, governments are controlled by bankers. I'm not surprised their lobby is going to put pressure on GG [Гэри Генслер, председатель Комиссии по ценным бумагам и биржам США]. Spot Bitcoin ETFs are a sweet spot. They want to control cryptocurrency just like any other asset, create an exchange-traded fund for everything that people can buy. Spot Ethereum ETFs are the next step,” Hayes said.

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

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