SEC roundtable could ‘change the outlook’ for Ethereum ETFs

The American Securities and Exchange Commission holds its first round cryptographic regulatory table, focusing on the definition of the safety state of cryptographic assets.

The event marks the start of a series of discussions by the DRY Newly formed crypto working group, which could have significant implications for the wider market of cryptocurrencies.

Define cryptographic assets as titles

According to Tanaya Macheel of CNBC, the efforts of the SEC aim to provide clearer guidelines on the question of whether certain cryptographic assets should be classified as titles, a problem that has created tensions between dry and cryptographic industry.

“The dry of the old administration has targeted many companies for their involvement in the crypto, alleging that most of the coins were unregistered titles but not giving clear directives to follow to avoid being targeted,” said Machel.

Today’s round table could also have implications for Ethereum (Ethn) Funds negotiated in exchange. Although the SEC has recently declared that the parts even are not considered to be titles, the agency has not yet clarified its position on the puncture services linked to the Crypto ETF, a factor that could affect future market growth.

“The appetite for the ETH ETH has been lukewarm compared to Bitcoin ETF, and one of the major reasons is the inability to gain a yield of sticking on these funds,” said Machel. “If the dry can resolve some of the uncertainties on the services of potential unregistered titles, it could change the prospects for ETH ETH.”

Bitcoin is stable while Ethereum is late

Despite regulatory uncertainty, Bitcoin (BTC) has remained stable in recent weeks. Macheel noted that Bitcoin is negotiated around his mobile average at 200 days close to $ 84,000, which traders consider a level of key technical support.

“If he can last 200 days, it’s great,” she said. “In the longer term, Ethereum for me is more special. It has just been left to death. There are large short positions with the Hedge Funds, but Bitcoin has clearly surpassed.”

Market prospects remain mixed

Ethereum’s underperformance in relation to bitcoin was a notable trend. While Bitcoin was held stable, Ethereum had trouble gaining momentum despite the increase in institutional interest for financial products based on ETH.

Machel also stressed that the wider market of cryptography has experienced a relatively moderate activity compared to other asset classes such as gold.

“Gold broke $ 3,000 this year while Bitcoin was sitting in the range of $ 80,000,” she said. “Sometimes the most boring assets are the greatest winners.”

Investors look closely to see if the dry round table will bring clarity on the wider development and regulatory framework of cryptographic assets. A more defined regulatory environment could open the way to increased adoption and new financial products related to cryptographic assets.