When Coinbase meets Gary. The cryptocurrency sector is so hung up on its decisions that it would almost be possible to invent a “DRY point” to define certain situations. Like for example the fact of having waited for months for the goodwill of this regulatory body made in the US regarding the approval of Spot Bitcoin ETF. All this to ultimately determine the starting point of the current bull market. Even though his boss, Gary Gensler, ardently wishes to put obstacles in the way of this digital economy, boiled down to a simple roller coaster ride. New episode: Coinbase And Grayscale follow one another in order to accelerate Ethereum Spot ETF Approval…
Coinbase and Grayscale meet with the SEC
By trying to prevent, the United States Securities and Exchange Commission (SEC) could almost be seen as the judge at the start of the current bull market. Because it is largely his slowness in approving ETFs Bitcoin in cash which finally crystallized the dazzling success of these financial vehicles.
An unparalleled situation about which tempers are heating up. As for example in the head of maximalist Michael Saylorfounder of MicroStrategy, currently predict an SP500 crash by this new investment formula dedicated to BTC.
At the same time, an immediate shift took place regarding a possible integration ofEthereum at this institutional celebration. A blockchain currently in the process of prepare your Cancun-Deneb hard forkplanned for March 13.
But its operating model Proof of Stake (PoS) is not to Gary Gensler’s taste. The latter always looking for a financial title to uncover…or invent it from scratch. This is the reason why crypto players, like Coinbase and Grayscale, are holding more meetings in order to unblock the situation.
When will Ethereum spot ETFs be approved?
The Coinbase platform is used to managing attacks and other escapades by the US SEC. As a result, she anticipated her slowness in the file of Ethereum spot ETF. This by publishing recently a guide to the 5 reasons to approve such a project. But this initiative is obviously not enough.
As a result, and in parallel with the Grayscale company, Coinbase officials conducted a new round of negotiations with the regulator last week. This in order to reassure her about an approval that is still completely hypothetical. And, in any case for the moment, well on the way to being postponed as far as legally possible.
In the event of a confirmed approval, everyone hopes an ETF effect applied to the cryptocurrency ETH. That’s to say billions of dollars spilled in a few weeks in a market now in search of institutional liquidity. But, once again, the launch of this race will be done according to the schedule and the goodwill of Gary Gensler.