TL; DR
Full story
Before you yell at us for titling this edition “The Biggest Day in Crypto History (Maybe Ever)” – let’s say this:
It’s not because of the Ethereum ETF. At least not alone.
Three enormous News broke yesterday, and we’re going to discuss them all – starting with the approvals of the Ethereum Exchange Traded Fund (ETF).
If the headline wasn’t clear enough, it’s approved!
This means that (once they go live) US investors will be able to buy ETH via the stock market (investors buy ETF shares → the ETF buys Ethereum), giving ETH purchases the ‘regulatory green light’, allowing large investment firms to invest without fear to end up in court.
(And more investments = higher prices).
When will they go live for trading? Magic 8 Ball says: “Reply blurry.”
The thing is, this was a SUPER last-minute approval (until Monday – it was pretty much a foregone conclusion that it would get canned).
So expect it to take at least a few weeks.
The takeaway:
Crypto is becoming a bipartisan issue in the US.
Whether by choice or the power of their constituents, both sides of the aisle are beginning to embrace the technology.
And while it’s still early…
The violent 180 we just witnessed gives us tangible hope that America will soon become a hotbed of crypto innovation again.
We’d love to see it!