Logo
Cardano Ecosystem

Bitcoinist

01/12/2024

·

40 views


Ethereum Insider Says ETH ETF Not Coming Next, Cardano And XRP Are Better Prepared | Bitcoinist.com

Ethereum insider Steven Nerayoff has once again hit Ethereum, but this time around, it is over the possibility of an ETH ETF being launched. After Bitcoin Spot ETFs gained approval from the United States...

Ethereum Insider Says ETH ETF Not Coming Next, Cardano And XRP Are Better Prepared | Bitcoinist.com

Ethereum insider Steven Nerayoff has once again hit Ethereum, but this time around, it is over the possibility of an ETH ETF being launched. After Bitcoin Spot ETFs gained approval from the United States Securities and Exchange Commission (SEC) on January 10, crypto enthusiasts are beginning to look to ETH as the next possible candidate for ETF approvals. However, Nerayoff believes this will not happen.

Ethereum Is Not Ready For ETFs

The @WhaleChart account took to X (formerly Twitter) to ask its more than 400,000 followers which crypto they would like to see get ETF approval next after Bitcoin. The options ranged between Ethereum, Cardano, XRP, and meme coins. And naturally, the ETH option took the lead with 43.4% of the total votes at the time of writing.

However, Steven Nerayoff does not agree that ETH will be the next to get an ETF. In the response to Whale Chart, the Ethereum insider who has been in the headlines for threatening to expose the founders for fraud said that Ethereum will not be the next asset to get ETF approval.

Instead, he believes that others on the list, such as Cardano and XRP, carried more promise to be approved for an ETF. “While I can assure you that Ethereum won’t be the next ETF on the horizon, I’m confident that the XRP and Cardano communities are more than prepared,” Nerayoff stated.

He once again reiterates his fraud allegations against the founders of ETH as a reason that an ETH ETF would not be coming. “We need to make sure we avoid fraud machines, like Ethereum,” the ETH insider said.

Ethereum price chart from Tradingview.com

ETH price shows strength against BTC | Source: ETHUSD on Tradingview.com

Bitcoin Is The Undeniable Game-Changer

In contrast to his constant harsh criticism of Ethereum and its founders, Nerayoff takes on a more favorable view of its predecessor, Bitcoin. Following the approval of the Spot Bitcoin ETFs, the Ethereum insider took to X to say that “Bitcoin is undeniably a game-changer for humanity and revolutionizing technology.”

This was in response to a tweet from 2017 where Nerayoff had revealed that the SEC rejected a Bitcoin ETF. Fast forward about six years later and the regulator would approve Spot BTC ETFs. He took the opportunity to reflect on the fact that “the crypto market remains as unpredictable as ever.”

Expectations of an ETH ETF remain on the high side nonetheless, with the likes of BlackRock, Valkyrie, and Fidelity already in the race for a Spot Ethereum ETF. Bloomberg analysts James Seyffart and Eric Balchunas have said that they expect an ETH ETF to be approved in mid-2024.

Featured image from Shanghaiist, chart from Tradingview.com

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

Scott Matherson

Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

AD

TapTax - Cardano Crypto Taxes Made Simple. Available Now!

Simplify your Crypto Tax experience! From a passive holder, to day trader, to NFT project, we have your taxes covered.BUY NOW!


Read Original Article on Bitcoinist

ORIGINAL SOURCE

https://bitcoinist.com/ethereum-eth-etf-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Genius Yields DEX Launched!

More from Bitcoinist

See more
Kraken Fires Back At US SEC, Points To Legal Precedent | Bitcoinist.com
Bitcoinist
Kraken Fires Back At US SEC, Points To Legal Precedent | Bitcoinist.com

last Friday at 12:00 PM

·

7 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)