Hey, it’s Marc. ✌️

Here's what happened today:

  • The SEC approved the spot Ether ETF.

  • Ahead of the SEC’s decision, Erich Balchunas, a Bloomberg analyst, raised the odds on spot ETH ETF approval to 75%, giving the markets a pump.

  • Gold ETF have a $200B market cap, BTC ETF $40B. What is it going to be for ETH?

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Why it’s Important

This is a massive step towards legitimizing crypto among institutional investors.

Even bigger: It could classify ETH as a commodity, NOT a security. 💡

  • Ethereum ETFs are being approved as "commodity-based trust shares" (CBTS).