Spot

<h4><strong>They are urging Gary Gensler, the chairman of the SEC, to expedite the approval of the spot Ether ETF.&nbsp;</strong></h4> 
<p>In their letter to Gensler, lawmakers stressed the need for regulated, transparent, and safe access to cryptocurrencies for investors. Let’s explore more about this news for Ether ETF.</p> 
<h5><strong>US Lawmakers Advocate for Regulated Crypto Access</strong></h5> 
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    Lawmakers highlighted spot Ether ETFs’ benefits, offering regulated crypto access. Unlike futures-based ETFs, spot Ether ETFs directly track Ethereum’s price. Additionally, spot Ether ETFs would enable investors to access the Ethereum market through regulated exchanges, ensuring compliance with securities laws and investor protection measures.
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<p>Emmer and Gottheimer, along with their colleagues, emphasized the importance of fostering innovation and competition in the digital asset space while maintaining investor protection and market integrity. They argued that approving spot Ether ETFs and other digital asset products would further these objectives, providing investors with additional avenues for diversification and wealth accumulation.</p> 
<p><img decoding="async" class="wp-image-141355 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/vdvdsght-244x300.jpg" alt="" width="419" height="515" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/vdvdsght-244x300.jpg 244w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/vdvdsght-341x420.jpg 341w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/vdvdsght.jpg 398w" sizes="(max-width: 419px) 100vw, 419px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/EricBalchunas/status/1793620303966503267" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The lawmakers’ call for the approval of spot Ether ETFs aligns with broader efforts to integrate cryptocurrencies into the traditional financial system. As cryptocurrencies continue to gain mainstream acceptance, regulatory clarity and investor confidence are essential for fostering widespread adoption.</p> 
<h5><strong>More About ETH ETFs</strong></h5> 
<p>According to <a href="https://www.bloomberg.com/news/articles/2024-05-23/crypto-etfs-hong-kong-considers-allowing-staking-for-ether-etfs-eth?utm_source=telegram&amp;utm_content=crypto&amp;utm_medium=social" target="_blank" rel="noopener">Bloomberg</a>, Hong Kong’s Securities and Futures Commission (SFC) is contemplating permitting staking for spot Ethereum ETFs within the region. In contrast, prospective spot Ethereum ETF issuers in the United States have opted to remove staking from their applications in anticipation of potential approvals today.</p> 
<p><img decoding="async" class="wp-image-141358 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/vcxbvfnbj-300x256.jpg" alt="" width="486" height="415" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/05/vcxbvfnbj-300x256.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/05/vcxbvfnbj.jpg 385w" sizes="(max-width: 486px) 100vw, 486px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/TheBlock__/status/1793651686961017309" target="_blank" rel="noopener">X</a></strong></h6> 
<p>This divergence in approach reflects differing regulatory considerations and market dynamics between the two jurisdictions. While Hong Kong explores the integration of staking mechanisms into ETF offerings, issuers in the U.S. are adjusting their strategies to align with <a href="https://www.altcoinbuzz.io/?s=regulations" target="_blank" rel="noopener">regulatory expectations</a> and expedite the approval process for Ethereum ETFs in the country.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/us-lawmakers-urge-sec-for-spot-ether-etf-approval/">US Lawmakers Urge SEC for Spot Ether ETF Approval</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

US Lawmakers Urge SEC for Spot Ether ETF Approval

Altcoin Buzz

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