BREAKING: #CRYPTO INVESTMENT PRODUCTS SAW $1.18 BILLION INFLOWS LAST WEEK AS #BITCOIN ETFS LAUNCH ~ @COINSHARESCO

🚨WHEN SHOULD WE EXPECT A SPOT $ETH ETF?🚨 - Even before a spot #Bitcoin ETF was approved yesterday, January 10th, it appeared narrative and attention was already shifting toward the tandem possibility of a spot #Ethereum ETF also being approved in 2024. - Indeed, the below firms have already begun the application process, with @SECGov, to launch their own $ETH exchange traded products… @VanEck_US @ARKInvest Hashdex @Grayscale @GalaxyHQ Blackrock Fidelity Predictions for #ETH ETF Approval… - @EricBalchunas has already suggested a 70% chance that an Ethereum ETF will be approved by the SEC by May of this year. - According to Balchunas… “The Ether spot is tied to the hip of Bitcoin spot for sure. It’s gonna go wherever it goes. It’s basically like on a 15-foot rope following it” - Balchunas has also said that he has heard “on the back channels” that an ETH ETF “will be fine”, per Cointelegraph. - At the same time, legal expert @JoeCarlasare has said that… “Ethereum spot ETFs will be approved [however] the SEC will try to carefully craft a precedent that permits them to retain some discretion in determining which digital asset ETFs will be permitted to come to market.” - This could be the stratification of which #crypto assets constitute securities and which are, in fact commodities. - However, the legal precedents already exist to suggest that major #cryptocurrency assets like $ETH and @Ripple’s $XRP are commodities in a legal sense. - Perhaps more bullishly, Hashdex, which has already filed for an ETH ETF, suggested that trading of such products could begin as soon as Q2 2024… #CryptoRegulation #Altcoin