ETF Euphoria Shows Bitcoin Needs Wall Street After All

What the ETF actually brings is extra credibility. On this case, Wall Avenue involvement is contingent on authorities approval. The SEC lastly approving an ETF after years of rejections primarily based on fears of “market manipulation” signifies a level of acceptance, nonetheless begrudging, of this asset class by one in every of its fiercest critics, SEC chair Gary Gensler. In principle, crypto can be unbiased of governments, and so the SEC shouldn’t matter that a lot. In actuality, crypto Twitter is mainly obsessive about most all the pieces Gensler says and does.