{"id":74434,"date":"2024-03-26T03:12:11","date_gmt":"2024-03-26T07:12:11","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=74434"},"modified":"2024-03-26T03:12:15","modified_gmt":"2024-03-26T07:12:15","slug":"grayscale-advocates-for-ethereum-etfs-mirroring-bitcoins-path","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/grayscale-advocates-for-ethereum-etfs-mirroring-bitcoins-path\/","title":{"rendered":"Grayscale Advocates for Ethereum ETFs, Mirroring Bitcoin\u2019s Path"},"content":{"rendered":"\n

Grayscale\u2019s Chief Legal Officer Craig Salm reinforces the case for Ethereum ETFs,<\/a> drawing parallels to the Bitcoin ETF approval process and signaling a strong stance for Ethereum\u2019s future in the investment world.<\/p>\n\n\n\n

\"Grayscale<\/figure>\n\n\n\n

Grayscale\u2019s CLO, Craig Salm,\u00a0has recently stepped forward to clarify the firm\u2019s position on the approval of Ethereum ETFs amidst debates over the SEC\u2019s stance on Ethereum as a security. <\/p>\n\n\n\n

Salm has confidently stated that the arguments supporting Ethereum ETFs are as compelling as those for Bitcoin ETFs, which have already seen the green light from regulators.<\/p>\n\n\n\n

Salm recounted the productive dialogues with the SEC<\/a> that paved the way for Bitcoin ETFs, covering key operational aspects like creation, redemption, and custody processes. <\/p>\n\n\n\n

He pointed out that the considerations for Ethereum ETFs are essentially identical, suggesting that the groundwork laid during the Bitcoin ETF discussions could streamline the path for Ethereum.<\/p>\n\n\n\n

\n

1\/ Recently, there\u2019s been a lot of chatter about spot #Ethereum\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> ETFs. I personally am not deterred by it and believe the ETFs should be approved. But right now I want to talk about how I think perceived \u201clack of SEC engagement\u201d should be viewed at this point:<\/p>— Craig Salm (@CraigSalm) March 25, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Despite the current silence from the SEC, Salm advised against assuming any negative implications, noting that the situation could evolve as the final decision date in late May 2024 approaches. He also aligned with industry leaders who argue for the approval of Ethereum ETFs based on consistency with Ethereum futures, the commodity nature of these futures, and the close correlation between futures and spot prices.<\/p>\n\n\n\n

In the wake of a market rebound, Ethereum\u2019s price<\/use><\/svg><\/span><\/a> has recovered from a dip to $3,000, currently trading up by 4% at $3,671, with a market cap of $435 billion and a 58% increase in daily trading volume to $20 billion. This resurgence aligns with analyses predicting a potential rally to new highs, possibly reaching around $5,000.<\/p>\n\n\n\n

Grayscale remains optimistic about the SEC\u2019s eventual stance, anticipating further discussions and hoping for a favorable outcome that would solidify Ethereum\u2019s position in the ETF market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Grayscale\u2019s Chief Legal Officer Craig Salm reinforces the case for Ethereum ETFs, drawing parallels to the Bitcoin ETF approval process and signaling a strong stance for Ethereum\u2019s future in the investment world. Grayscale\u2019s CLO, Craig Salm,\u00a0has recently stepped forward to clarify the firm\u2019s position on the approval of Ethereum ETFs amidst debates over the SEC\u2019s […]<\/p>\n","protected":false},"author":44,"featured_media":74436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[18920,18846,541,8615],"class_list":["post-74434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-craig-salm","tag-ethereum-etf-2","tag-grayscale","tag-spot-bitcoin-etf-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/Craig-Salm.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/74434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=74434"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/74434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/74436"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=74434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=74434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=74434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}