GDLC - The SEC Is Allowing Ethereum ETFs: Should You Invest?
2024-05-28 18:17:06 ET
Summary
- Ethereum has soared after Ethereum-based ETFs have been approved for listing by the SEC.
- The approval comes after apparent political pressure from above.
- Should you start investing in Ethereum ETFs? Despite the newfound freedom to do so, I'd argue no.
- Investors should learn to walk before they run in the crypto markets, and learn how they're leaving money on the table in the mainstream financial system before going all-in on crypto.
In a surprise move last week, the SEC signed off on exchange proposals to list Ethereum-based ETFs. This means that Ethereum ( ETH-USD ) will soon be tradable for millions of investors in their brokerage accounts with just a few clicks. The approval of Bitcoin ETFs ( BTC-USD ) in January was a watershed moment for crypto , and Ethereum ETFs were a logical next step. Even earlier this month, the idea of an Ethereum ETF had seemed like a longshot. But Donald Trump stepped up attacks on the SEC in early May and began accepting crypto donations , leading prominent Democrats to fear that crypto was becoming a political weakness . It seems that some political pressure may have been applied, and Ethereum soared on the approval news....
The SEC Is Allowing Ethereum ETFs: Should You Invest?