What the ETF really brings is more credibility. In this case, Wall Street involvement is contingent on government approval. The SEC finally approving an ETF after years of rejections based on fears of “market manipulation” indicates a degree of acceptance, however begrudging, of this asset class by one of its fiercest critics, SEC chair Gary Gensler. In theory, crypto is also independent of governments, and so the SEC shouldn’t matter that much. In reality, crypto Twitter is basically obsessed with most everything Gensler says and does.
Bitcoin Has Best Day in 2 Months as Markets Anticipate a ‘Summer of Easing'
The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies....