US Senators Urge Caution in Approval of Crypto ETFs, Casting Doubt on Ethereum ETF Applications
Senators Reed and Butler have sent a letter to SEC Chair Gensler, urging caution and scrutiny in the approval process for crypto ETFs. They argue against blanket approval of cryptocurrency ETPs, citing concerns over market integrity and investor protection. The senators also express skepticism regarding thinly traded cryptocurrencies' suitability for ETPs, citing potential risks to retail investors. This has led to uncertainty over the approval of Spot Ethereum ETF applications by Grayscale, BlackRock, VanEck, and Franklin Templeton. Additionally, Bitcoin ETFs' inflow of funds has decreased by 80% to $133 million as BTC's price falls.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Discover Enormous Potential in Cryptocurrency’s Next Big Wave
In Brief The crypto market is showing similarities to the Dot-Com bubble era. There is a bullish expectation for XRP and SEI with potential price increases. Institutional interest in crypto may support Bitcoin and altcoins' prices.
Trump Declares Broad Support for Cryptocurrencies
Animoca and Cream Labs Invest in TrendX Platform
JPMorgan Completes First Public Tokenized Bond Trade
Trending news
MoreCrypto prices
More
