SEC's Fatal Blow! ETH Staking Dream Shattered, Is SOL Going to Steal the Show?
What is the SEC up to? Just when it seemed they were about to give the green light to Bitwise's Ethereum ETF 'staking feature' in early July, what happened? They hit the brakes and announced a delay + initiated a public review! As it stands, this matter will at least be dragged out until October for clarity...
To put it simply, Bitwise just wanted to add a 'passive interest' benefit to their Ethereum ETF, making investors happy. But the SEC stubbornly believes the risks are not clear and hesitates to approve! Now, this is a double whammy—ETH's price has halved this year, the on-chain activity is also very quiet, and this lifeline of an ETF has now lost its 'interest' part. Thinking about a rebound in the short term? Tough!
What's even more painful! Rex-Osprey's Solana staking ETF is set to launch on July 2! If this really happens, the higher returns will surely attract institutional funds that were eyeing Ethereum, right? ETH's situation is truly adding insult to injury!
Moreover, this bad luck isn't just for ETH! Look at XRP, DOGE and their peers, their ETF applications have also been 'massively delayed' by the SEC! Alright, everyone is now queuing up at the 'ghost gate' of October!
