The SEC has maintained a cautious approach in the wake of approving Bitcoin ETFs. The commission’s particular concern lies with staking protocols associated with Ethereum, as these could lead to tokens being classified as securities, which would likely complicate the approval process.
Several major firms, including BlackRock (NYSE:BLK) and Fidelity, have demonstrated their interest in the cryptocurrency space by filing for spot Ethereum ETFs. The market is closely watching these developments, as a decision on VanEck’s Ethereum ETF application is expected by May 23. The outcome of this decision is anticipated to significantly influence the regulatory landscape for Ethereum-based investment products.
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