Opinion: Ethereum ETF does not require approval by the US SEC, which is a positive signal for other cryptocurrencies

Golden Finance reported that the U.S. SEC approved the Ethereum ETF through authorization, a decision that may have a significant impact on the cryptocurrency market. Unlike the Bitcoin ETF that required SEC vote approval in January, this approval did not go through a public voting process by the commissioners. As James Seyffart points out, this method of approval means that any commissioner (such as Crenshaw) can request a review, but it will not change the decision. The lack of a public vote raises questions about the political power within the SEC. Seyffart stressed that while delegation is the norm for many decisions, the lack of transparency in this case leaves room for speculation about the commissioners’ stance. Seyffart argued that the lack of detailed voting records obscured the political lines in the ratification process.