Ethereum
Investing in crypto while waiting for Ether ETF approval
After spot bitcoin (BTC-USD) ETFs have proven themselves on Wall Street this year, the Securities and Exchange Commission (SEC) may now consider them approval of an ether (ETH-USD) AND F. Yahoo Finance contributor and founder of Maconomics Ross Mac talks about the increased accessibility of crypto assets to more traditional investors wishing to gain exposure to digital assets.
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This message was written by Luke Carberry Mogan.
Video transcription
Cryptocurrencies have risen over the past 24 hours amid speculation that the SEC may soon approve Ether exchange-traded funds, or ETS for short. For more on why this could be good for your crypto portfolio, Yahoo Finance contributor Mac Ross.
Take it off, Brad.
Thank you for.
Look, at the end of the day, it’s overall great for the industry, right?
We’re talking about this, it’s going to break it a lot safer.
Obviously, it’s more regulated but not only that, right?
That actually makes it more accessible to the average investor, right?
We’re not talking about having to open another account.
Um, we’re not talking about having to go get a digital wallet or even a ledger.
Now, we don’t want to confuse people that you should be self-custodian and actually hold your assets, put them in a ledger.
We’re also talking about making the overall asset class much more legitimate.
Right now, regulators are getting involved.
What does it do ?
This actually allows us to get past this dark cloud coming from the open air sandbar and many other unfortunate cases, you know, that we might have, right.
We’re talking about bringing very large asset managers into the sector, whether it’s Fidelity or Blackrock.
RIGHT.
I think this form of legitimacy will bring a certain level of stability to the market as a whole.
And we also improved liquidity.
RIGHT?
I think, uh, when you have these big long only asset managers, that might not be the case.
And obviously, I don’t know, you know, I don’t have a crystal ball, but I don’t, I don’t think we’re going to see these big swings of 40 to 50% in a month like we We had seen it in the past.
And uh, when it comes to, you know, the rumor, when it comes to Ethereum which is now approved to actually have a place, the Ethereum ETF which is phenomenal for the whole class of Ethereum assets as well as for all the people who have been champions of Ethereum for some time.
Because if we look at history and actually look at what happened with Bitcoin and all the rumors about the 11 ETS being approved.
The story continues
Well, guess what, Bitcoin has recovered well up to this point.
And I think this is obviously a rumor, some sort of information selling where I think that, you know, over the next month or so, we should potentially see Ethereum overtaking some of the other crypto- currencies.
Ross, thank you very much, for keeping a close eye on some of the latest crypto ETFs that will be discussed and potentially getting some green lights here.
Thank you so much.
Dude.