Bitcoin
Investing in Crypto Amid Ether ETF Approval Pending
After bitcoin spot (BTC-USD) ETFs have proven their worth on Wall Street this year, the Securities and Exchange Commission (SEC) may now be considering approval of an ether(ETH-USD) ETF. Yahoo Finance contributor and founder of Maconomics RossMac talks about the greater accessibility of crypto assets for more traditional investors who want to gain exposure to digital assets.
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This post was written by Luke Carberry Mogan.
Video transcript
Cryptocurrencies have been surging over the past 24 hours amid speculation that the SEC may soon approve Ether or ETS exchange-traded funds, for more on why this could be good for your crypto portfolio is Yahoo Finance Contributor , Ross, Mac Ross.
Take it away, Brad.
Thanks for receiving me.
Listen, when all is said and done, this is great for the industry, right?
We are saying that this will break much safer.
Obviously it’s more regulated, but that’s not all, right?
It’s actually making it more accessible to the average investor, right?
We’re not talking about having to open another account.
Uh, we’re not talking about having to acquire a digital wallet or even a ledger.
Now, we don’t want to confuse people about whether you should have self-custody and actually hold your assets, put them on a ledger.
We’re also talking about making the overall asset class much more legitimate.
Right now, regulators are really getting involved.
What does it do?
In fact, it gets us past that dark cloud of the open-air sandbar and a lot of other, you know, unfortunate instances that we might have, right.
We’re talking about bringing big asset managers into the space, whether we’re talking about Fidelity or Blackrock.
Right.
I think this form of legitimacy will bring some level of stability to the overall market.
And we also improved liquidity.
Right?
I think when you have these big asset managers, maybe not.
And obviously, I don’t know, you know, I don’t have a crystal ball, but no, I don’t think we’re going to see those big swings of 40 to 50% in a month that I once saw in the past.
And, uh, when it comes to, you know, the rumor, when it comes to Ethereum now being approved to actually have a spot, Ethereum ETF which is phenomenal for the overall Ethereum asset class as well as for all the people who have been Ethereum champions for some time.
Because if we look at history and we really look at what happened with Bitcoin and all the rumors that the 11 ETS were approved.
The story continues
Well guess what, Bitcoin actually recovered well leading up to this point.
And I think this is obviously a rumor, selling news, where I think that, you know, over the next month or so, we should potentially see Ethereum overtake some of the other cryptocurrencies.
Ross, thanks so much, keeping a close eye on some of the latest crypto ETFs being discussed and potentially getting the green light here.
Thank you very much.
My man.