SEC Drops Ethereum 2.0 Investigation, Raises Questions for Other Proof-of-Stake Coins

• Ether and Bitcoin volatility indexes show excitement over upcoming spot ETH ETFs.
• Institutions may use spot ETFs for non-directional basis trades, impacting volatility pricing.
• Ether's implied volatility exceeds Bitcoin's, but demand for ETH ETFs may be tepid.
• Open interest in CME ether futures is significantly lower than Bitcoin futures.
• Bernstein predicts spot Bitcoin ETF approval by major institutions in Q3/Q4.
• Bitcoin may reach $200,000 by 2025, $500,000 by 2029, and $1 million by 2033.

Summary :
The U.S. Securities and Exchange Commission (SEC) has dropped its investigation into Ethereum 2.0, signaling that Ethereum may not be considered a security. This has led to speculation that other proof-of-stake coins like Solana and Polygon may also not be classified as securities. However, legal experts caution against making assumptions based on this decision, as each coin's circumstances may be different. Meanwhile, Hashdex has announced that it will waive all fees for its Hashdex Nasdaq Crypto Index Europe (HASH) fund until it reaches $1 billion in net asset value. This comes as Hashdex plans to offer a joint Bitcoin and Ethereum ETF in the U.S. The spread between ether and bitcoin implied volatility indexes has widened, reflecting excitement about the potential debut of spot ETH ETFs in the U.S. However, some observers suggest that the excitement may be unfounded, as institutions may use spot ETFs to set up non-directional basis trades rather than taking outright ETF exposure. Additionally, Bernstein predicts that spot bitcoin ETFs will be approved by major wirehouses and large private bank platforms in the third and fourth quarters, leading to further institutional adoption of bitcoin.

Sources :

- Decrypt
- TheBlock
- Decrypt
- Blockworks
- Decrypt
- Coindesk
- TheBlock
- CoinTelegraph
- Coindesk
- Coindesk


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