Ethereum
SEC approves non-equity Ethereum ETF proposals
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The U.S. Securities and Exchanges Commission (SEC) recently approved “on an expedited basis” proposed rule changes from three exchanges seeking to list Ethereum spot. exchange traded products. Most observers had expected the SEC to reject the requests on the basis that they were filed as commodity ETFs and that the SEC considers Ether (or ETH, the native cryptocurrency of Ethereum Platform) to be a security.
“The approval order builds on research from Bitwise and the SEC examining the correlation between Ether spot prices and the price of regulated Ethereum futures contracts,” said Matt Hougan, chief investment officer at crypto index fund manager Bitwise. “The fact that there is a large, robust and regulated futures market on Ethereum had a big impact on the decision.”
Bryan Love, Morningstar
Another factor was the removal of deposit staking. Ethereum relies on staking to keep the network secure, rewarding users who participate in producing and validating blocks via a portion of newly minted ETH.
Higher amounts help make the network more secure by making it more immune to 51% attacks. A 51% attack is an attack on a cryptocurrency blockchain by an entity or group that controls more than 50% of the network and can thus prevent new transactions from obtaining confirmations and reverse unconfirmed transactions.
Ethereum