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‘Study Never Giving Up’: Crypto Twitter Reacts to Ethereum ETF Win

May 23, 2024
in Web3
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After the U.S. Securities and Change Fee accredited eight spot Ethereum ETFs on Thursday, Crypto Twitter took one other 2024 victory lap after the primary Bitcoin ETFs had been accredited in January—and the U.S. Home of Representatives handed the Monetary Innovation and Expertise for the twenty first Century Act (FIT21), on Wednesday.

Lawmakers on either side of the aisle have urged the SEC to approve spot Ethereum ETFs, saying that the exchange-traded product ought to obtain the identical consideration as spot Bitcoin ETFs.

Crypto Twitter reacted swiftly to the information that the SEC accredited the Ethereum ETFs. Listed below are a number of the standout reactions that adopted the historic information.

This week, today, has been a rollercoaster not like some other I’ve seen. ETH is successfully deemed a Commodity as we’ve at all times identified it to be. I’m proud to be on staff @Coinbase, the trusted accomplice and custodian for most of the issuers who had 19b-4’s accredited tonight. pic.twitter.com/nz1HHFbBSQ

— paulgrewal.eth (@iampaulgrewal) Could 23, 2024

all that hubbub for eth to print a +1% every day candle

— foobar/ (@0xfoobar) Could 23, 2024

No coin maxi: “There’ll by no means be a BTC spot ETF.”

Bitcoin maxi: “There’ll by no means be an ETH spot ETF.”

Ethereum maxi: “There’ll by no means be a SOL spot ETF.” pic.twitter.com/i0fOVx3HSl

— Aylo (@alpha_pls) Could 23, 2024

Whereas nearly all of the crypto devoted celebrated, some took a extra cautious tone.

alpha on why ETH is not mooning: –>solely 19-4s accredited, not S-1s–>approval was by division of buying and selling/markets on ‘delegated authority’–>means a commissioner can problem in subsequent 10 days (additionally means they’re making an attempt to cover the vote b/c it is political)

what’s actually happening…

— _gabrielShapir0 (@lex_node) Could 23, 2024

It was at all times 50/50 for approval for the #Ethereum Spot ETFs. The SEC actually painted themselves in a nook and had no alternative however to let it by means of. It is vital to grasp that this doesn’t change the bearish outlook for Ethereum in any respect. https://t.co/pS08fwRWe8

— Samson Mow (@Excellion) Could 23, 2024

And final however not least, the man within the MOG shades who requested former President Trump about preserving crypto in america earlier this month—a transfer that some business observers, at the very least, suppose might have swayed political momentum round crypto.

you’re welcome

— Malcolm (33.3%) (@macdegods) Could 23, 2024

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