Finance lawyer Scott Johnsson has offered his thoughts on why the SEC is investigating Ethereum and how it will be used to deny spot ETFs.
The reported probe into Ethereum and its foundation could be a way for the securities regulator to comfortably deny spot Ether — as a non-correlation objection may not hold up.The crypto lawyer explains that denying spot ETH ETFs solely based on correlation analysis may be a temporary solution, as correlation levels are improving over time.that the “correlations between futures and spot isn’t as strong" before adding that he was “not nearly as optimistic here vs BTC ETFs.
Finally, Johnsson believes the probe would also help the SEC thread a needle — deny spot Ethereum ETFs while avoiding “undermining the arguments” in its legal action against Coinbase and Binance.with Bloomberg TV earlier this month, SEC chair Gary Gensler was asked directly about the status of ETH as a security to which he replied with his usual vagueness, without answering the question.
“Could the SEC go full scorched earth? Absolutely, but I’ll still hold my breath for the moment. I’ve heard reasonable arguments that this might be the case, so be warned.
He added, “We hope they won’t try to invent one by questioning the long-established regulatory status of ETH, which the SEC has repeatedly endorsed.”on the SEC's move against Ethereum stating"This is contrary to the CFTC's assessment and the SEC's prior actions," before adding:Bitcoin trader says sub-$57K BTC price would help sustain bull market
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum Killers, Layer2 Solutions, and Ethereum Dencun Upgrade: Who Will Benefit?Ethereum has successfully completed its next upgrade called Dencun. As a result, fees were reduced, and the scalability issues were solved.
Read more »
Optimism Chains Ready for EIP 4844 Upgrade, Here's Why This Is Big DealEthereum-based L2s getting closer to most radical tech upgrade in Ethereum scaling history
Read more »
ERC 6551 Ethereum Standard Changes Game in Ethereum NFTs: GuideHere's how one EIP can boost entire concept of non-fungible tokens in EVM blockchains
Read more »
Spot Ether ETF: 'No Grounds for Disapproval,' Major Expert SaysRecent SEC meeting with Grayscale, Coinbase representatives is good news for spot Ethereum (ETH) ETF enthusiasts
Read more »
Binance Chain Tokens Trends With SEC Rejection of BlackRock's Ethereum ETFeTukTuk can help you get massive returns while waiting for Ethereum ETFs
Read more »
Reddit Is Invested In Bitcoin and Ethereum, SEC Filing ShowsCrypto Blog
Read more »