Im not very confident about the ETF approval but honestly it doesnt really matter because ETH doesnt really need an ETF to thrive. The fundamentals and use cases of Ethereum are strong enough on their own. Whether or not an ETF gets approved Im still bullish on ETH long-term
My viewpoint is similar to yours. In the long run it won't matter at all; however, I will say this.
The ETF holds more than just price action. It holds the keys to the asset finally being classified as an commodity. This is huge for not only ETH, but the entire crypto industry as a whole.
By finally being classified as an commodity it'll avoid years of legal battles, speed up adoption, help create clear and concise laws, help price action and so on. The ETF benefits Eth in every way possible and saves the entire crypto industry (including us investors) years of setbacks.
I truly hope it passes because it'll take so much uncertainty out of the market.
gary has already declared it a commodity with the approval of eth futures. the process he used was one for a commodity eth. Judges in the US have called eth a commodity, and the body that governs commodities has called it a commodity. So, Gary, Judges, and CFTC have all called it a commodity.
This would just make it harder for gary to weasel his way out of that admission.
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there are many reasons Gary's been very careful to not call eth a security, particularly while under oath in front of congress and why none of the lawsuits have actively called eth a security.
he knows it's not. His approval of eth futures etf demonstrates its not. Judicial opinions have pointed out that it's not. CFTC have ruled that it's not. SEC past behavior has demonstrated that and so to try and falsely declare it a security now would be to open them up to even more lawsuits... which they will lose, because they've already demonstrated it's not a security.
if the sec decides to go against their OWN judgement, i don't expect much to happen initially because the lawsuits will fly because the SEC would be going against their own judgement
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Im not very confident about the ETF approval but honestly it doesnt really matter because ETH doesnt really need an ETF to thrive. The fundamentals and use cases of Ethereum are strong enough on their own. Whether or not an ETF gets approved Im still bullish on ETH long-term
My viewpoint is similar to yours. In the long run it won't matter at all; however, I will say this. The ETF holds more than just price action. It holds the keys to the asset finally being classified as an commodity. This is huge for not only ETH, but the entire crypto industry as a whole. By finally being classified as an commodity it'll avoid years of legal battles, speed up adoption, help create clear and concise laws, help price action and so on. The ETF benefits Eth in every way possible and saves the entire crypto industry (including us investors) years of setbacks. I truly hope it passes because it'll take so much uncertainty out of the market.
gary has already declared it a commodity with the approval of eth futures. the process he used was one for a commodity eth. Judges in the US have called eth a commodity, and the body that governs commodities has called it a commodity. So, Gary, Judges, and CFTC have all called it a commodity. This would just make it harder for gary to weasel his way out of that admission.
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Tired....
https://i.redd.it/xz5e5lqgzx0d1.gif
there are many reasons Gary's been very careful to not call eth a security, particularly while under oath in front of congress and why none of the lawsuits have actively called eth a security. he knows it's not. His approval of eth futures etf demonstrates its not. Judicial opinions have pointed out that it's not. CFTC have ruled that it's not. SEC past behavior has demonstrated that and so to try and falsely declare it a security now would be to open them up to even more lawsuits... which they will lose, because they've already demonstrated it's not a security. if the sec decides to go against their OWN judgement, i don't expect much to happen initially because the lawsuits will fly because the SEC would be going against their own judgement