Ethereum

United

<p><strong>Will Ethereum be endorsed by Wall Street with an ETF? Michael Saylor says no. There won’t be an Ethereum ETF in the United States.</strong></p>
<h2 id="h-etf-bitcoin-vs-ethereum">ETF – Bitcoin vs Ethereum</h2>
<p>Michael Saylor, Executive Chairman and co-founder of MicroStrategy, claims that the SEC will classify <a href="https://www.cointribune.com/en/ethereum-sinks-against-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> as a “security” this summer and will reject ETF applications submitted by various asset managers, including BlackRock.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Mr. Saylor made this prediction during his presentation at the <a href="https://www.microstrategy.com/world-2024/agenda" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy World 2024</a> conference.</p>
<p><em>“Bitcoin is the best digital asset. Why? Because it’s becoming increasingly clear that no other will be accepted institutionally during this decade. Bitcoin is the only crypto that will succeed.</em></p>
<p><em>That’s what the creation of Bitcoin ETFs in January indicated. By the end of May, everyone will realize that there won’t be an Ethereum ETF. Once rejected, we’ll know that Ethereum is a ‘security’ and not a ‘commodity’ [like gold, copper, corn, etc.].”</em></p>
<p>For the billionaire, cryptocurrencies that do not operate on a Proof of Work consensus system are “securities”.</p>
<p><em>“Ethereum, BNB, Solana, Ripple, Cardano, and the rest are just unregistered digital assets with the SEC. None will have an ETF. Wall Street and big institutional investors won’t want them.</em></p>
<p><em>Bitcoin is the sole universally accepted digital asset tailored for institutional investors. There will not be another one this decade. I can’t predict what will happen in 20 years. But between 2024 and 2030, the die is cast, bitcoin has won, there is no second best.”</em></p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">.<a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Saylor</a>: "Ethereum, BNB, Solana, Ripple, Cardano—everything down the stack—is just a crypto asset security unregistered. None of them will ever be wrapped by a spot ETF. None of them will be accepted by Wallstreet."<a href="https://t.co/oSPKmr6A2r" rel="noopener noreferrer nofollow">pic.twitter.com/oSPKmr6A2r</a></p>— Pledditor (@Pledditor) <a href="https://twitter.com/Pledditor/status/1786179079449829471?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 2, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<p>Despite the validation of an <a href="https://www.cointribune.com/en/reuters-chinese-bitcoin-etfs-as-early-as-next-week/" target="_blank" rel="noopener noreferrer nofollow">Ethereum ETF in Hong Kong</a> last week, expectations have collapsed over the past few weeks regarding the United States. Polymarket estimates the probability of an Ethereum ETF being approved at only 11%.</p>
<p>The deadline is May 23. According to Mr. Saylor, the ETF proposed by VanEck will be definitively rejected. The SEC will likely decide on the other ETF applications at the same time.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>It’s worth noting that blockchain development company Consensys intends to wage a legal battle against the SEC to force it to recognize Ethereum as a “commodity”.</p>
<p>This will be difficult. Only bitcoin is an “asset without an issuer”. Satoshi Nakamoto presented bitcoin to the world before disappearing. The mere fact that Consensys (a company owned by Joseph Lubin, one of the founders of Ethereum) wants to engage in a legal battle is enough to disqualify it.</p>

Saylor – “There will be no Ethereum ETF”

Table of Contents

Cointribune EN

Other articles published on May 3, 2024

Economist Alex Krüger Goes ‘Max Long’ on Crypto Positions – Here Are His Altcoin Picks

Bitcoin ETF Mania Drives Record Growth Across Coinbase's Platforms, CEO Brian Armstrong Notes 'We...

Bitcoin's 'Clock Is Ticking': Why Edward Snowden Issues 'Final Warning'

Solana Rivals Take the Stage with 5 Cryptos Expected to Lead in 2024

Telegram-linked TON Ecosystem’s TVL Soars 1182% in Q1 2024

Bitcoin Whales Acquire 47,000 BTC in a Single Day: A Strategic Buy-the-Dip Move

Join our free newsletter for daily crypto updates!