The SEC Could Reject New Ether ETFs This Month Due to Lack of Oversight
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The U.S. Securities and Exchange Commission is expected to make a crucial decision regarding the approval of ether exchange-traded funds next week.
However, it is anticipated to face obstacles due to the absence of a comprehensive regulatory framework for all cryptocurrencies, as stated by Ric Edelman, who heads the Digital Assets Council of Financial Professionals.
In an interview with CNBC’s “ETF Edge,” Edelman expressed his belief that there will likely be a further delay in the decision, which he views as somewhat positive news.
Edelman, an investor and author in personal finance, emphasizes the need for regulations to safeguard individuals from crypto scams. He points out that existing laws are outdated and ill-suited for digital advancements.
Matt Hougan of Bitwise Asset Management also advocates for updated regulations, noting that current securities laws are not aligned with the complexities of digital assets and modern technology.
Bitwise has its own application for an ethereum ETF and remains optimistic about the potential for progress in this area.
Both the ether ETF proposals from VanEck and ARK Investments/21Shares are awaiting approval or denial this month.
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