After spot bitcoin (BTC-USD) ETFs proved their mettle on Wall Street this year, the Securities and Exchange Commission (SEC) may now be considering the approval of an ether(ETH-USD) ETF. Yahoo Finance Contributor and Maconomics Founder Ross Mac talks about the increased accessibility of crypto assets to more traditional investors wishing to get exposure on digital assets.
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This post was written by Luke Carberry Mogan.
Video Transcript
Cryptocurrencies have been on the rise 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 is Yahoo finance contributor, Ross, Mac Ross.
Take it away, Brad.
Thanks for having me.
Listen, when it’s all said and done, this is great overall for the industry, right?
We’re talking about it’s gonna break it a lot safer.
Obviously, it’s more regulated but not only that, right?
It’s actually making it more accessible for the average investor, right?
We’re not talking about having to go open up another account.
Uh We’re not talking about having to go get a digital wallet or even a ledger.
Now, we don’t want to confuse people about should you self custodian and actually hold your assets, put it on a ledger.
We’re also talking about making the overall asset class a lot more legitimate.
Right now, regulatory bodies are actually getting involved.
What does that do?
It actually gets us past that dark cloud from the sandbank of free air and a lot of other, you know, unfortunate instances that we may have, right.
We’re talking about bringing big, big asset managers into the space, whether we’re talking about Fidelity or blackrock.
Right.
I think that form of legitimacy is gonna bring some level of stability to the overall market.
And we also have improved liquidity.
Right?
I think that um when you have these big long only asset managers, we may not.
And obviously, I don’t know, you know, I don’t have a crystal ball, but I don’t, I don’t think that we’re gonna see those big 40 50% swings in a month that we once saw in the past.
And uh when it comes to, you know, the rumor, when it comes to Ethereum now being approved of actually having a spot, Ethereum ETF that’s phenomenal for the overall Ethereum asset class as well as all the people that have been champions of Ethereum for quite some time.
Because if we look at history and we look at actually what happened with Bitcoin and all the rumors of the 11 ETS being approved.
Well, guess what, Bitcoin actually rallied well, leading up to that point.
And I think that this is obviously a by the rumor, sell the news kind of thing where I think that, you know, over the course of the next month or so, we should potentially see Ethereum outpace some of the other cryptocurrencies.
Ross, thanks so much, keeping close tabs on some of the latest crypto ETF s to be discussed and potentially getting some green lights here.
Thanks so much.
My guy.
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