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SEC will not grant approval for Ethereum spot ETFs
Ethereum ETFs are not approved; Crypto education urgently needed. Find out why experts are skeptical and how the industry is reacting.
SEC will not grant approval for Ethereum spot ETFs
Expectations surrounding the approval of Ethereum spot ETFs by the US Securities and Exchange Commission (SEC) remain uncertain. Experts like Justin Sun, founder of the Tron blockchain, expressed concerns about approval next May. Sun emphasizes the need for long-term cooperation between the crypto industry and regulators as they require comprehensive education on how cryptocurrencies work.
The chance of approval for Ethereum ETFs is considered slim by some experts such as ETF analyst Eric Balchunas. The SEC could classify Ethereum as a security, which would mean additional regulations for crypto exchanges. Despite the pessimistic outlook, applicants such as Grayscale and BlackRock continue to work to optimize their applications in accordance with the SEC's requirements.
A rejection of the Ethereum ETF applications would likely lead to legal disputes. At the same time, the launch of crypto ETFs in Hong Kong is approaching, which is expected to provide important impetus for the market. The much-needed crypto education plays a crucial role in giving regulators and new entrants a better understanding of the industry.
In this context, the 99Bitcoins platform has been providing comprehensive course materials and information for beginners and experienced traders since 2013. The planned learn-to-earn algorithm is intended to reward users who successfully complete modules. The platform's $99BTC token is currently in pre-sale and is seeing strong interest from investors looking to benefit from annual returns.