The US Securities and Exchange Commission recently ratified all applications for spot Bitcoin ETFs. Against this background, positivity has reigned in the crypto community, as many investors expect industry funds on Ethereum. For example, analysts from Bloomberg believe that the SEC will give the green light to ETF-ETF in May of this year. The head of Morgan Creek Capital, Mark Yusko, does not agree with this point of view.
According to him, the probability of such a scenario developing is estimated at 50% maximum.. It was noted that despite the approval of BTC funds, the SEC regulator is still hostile to the digital asset segment. Problems are also caused by the fact how the regulator evaluates the main altcoin. For example, Bitcoin is considered by the agency as a commodity, while Ethereum is classified as a security.
Mark Yusko said a few words about Bitcoin ETF. In his opinion, the emergence of this tool will significantly reduce the volatility of the main digital coin. Consequently, potential profits may also decrease. The expert believes that this is a very positive factor mainly for long-term investors. Still, Bitcoin remains a highly volatile asset, and therefore predicting its dynamics over the long term is not the easiest task.
Earlier, the Crypto.ru team reported that the approval of the Bitcoin ETF has not yet triggered the explosive growth of the main digital coin. This is explained primarily by the contradictory fundamental background. It is worth noting that the BTC network has seen a significant increase in hashrate. This raises concerns that industry miners could initiate large sales in the market. For example, over the past month, crypto miners have transferred about $1 billion in BTC to centralized exchanges.