Two US senators said more crypto ETFs shouldn’t be approved. . Spot Ether ETF's bullish view may fade if the SEC pays attention to the concerns raised in the senators' letters. SEC and institutional brokers yet to comment on the senators’ letter. Crypto ETFs could slow down on their success after democrat senators Jack Reed and Laphonza Butler sent a detailed letter to the US Security and Exchange Commission chairman, Gary Gensler, asking him not to give any further approval.
Furthermore, they accused brokers of violating fair disclosure rules by intentionally obscuring important information and employing naming and marketing that appear to obfuscate important characteristics about these investments. Also read:Cetera proclaims ‘prudent embrace’ of spot BTC ETF usage, expert says more to come Spot Ether ETFs approval has slim chances This letter comes at a time when eight spot Ether ETFs from reputable firms like BlackRock, Franklin Templeton, VanEck, etc.
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