Key Takeaways
Bitcoin and ether experienced a decline after recent price surges. Ether saw a significant increase last week due to optimism surrounding the SEC’s potential approval of a spot ether ETF.
Ether ETF Approval and Regulatory Developments
- The SEC’s rule change has set the stage for spot ether ETFs on U.S. exchanges.
- Companies like BlackRock, Grayscale, and Fidelity may list these ETFs, but approval processes could delay their availability for trading.
- Comparison with bitcoin ETF launches raises questions about potential demand for ether ETFs.
House of Representatives Bill and Regulatory Clarity
The House passed a bill aiming to clarify regulatory jurisdiction for cryptocurrencies, but it faces uncertainty in the Senate and lacks support from President Joe Biden.
Trump’s Crypto Endorsement and Legal Developments
Former President Donald Trump expressed support for crypto by promising to pardon the founder of Silk Road, enhancing his appeal to Libertarian voters.
A U.K. judge ruled against Craig Wright’s claim of being Satoshi Nakamoto, citing extensive lies and forgery.
Market Expectations
- Watch for developments on the FIT21 bill in the Senate.
- Former FTX executive sentenced; Riot Platforms plans acquisition of Bitfarms.
