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ETHEREUM ETFs COMING SOON (Eruptions Market Report 6-14-24)

Securities and Exchange Commission Chair Gary Gensler suggested the ether ETFs are really already approved and all that remains are the registration details getting hammered out at the staff level.

Gensler repeated his complaints about the noncompliant crypto industry, demurred on answering whether ETH is a commodity and argued that the CFTC isn't ready to police crypto markets.

Commodity Futures Trading Commission Chair Rostin Behnam also addressed his agency's effort to ban elections contracts in the prediction markets.

Ethereum ETFs are extremely bullish for cryptocurrency as a whole.

It was obvious that there would be a Bitcoin ETF. I was predicting this in the dregs of the 2023 bear market. Now institutions are buying using the ETFs.

However, it was not so obvious whether or not Ethereum would be accepted by the SEC and approved for an ETF.

This is basically a giant green light for the entire industry.

Solana ETF is next.

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