Cryptocurrency Specialists Analyze SEC Influence and Federal Monetary Strategies

Crypto News– The relationship between federal monetary policies and regulatory actions from the US Securities and Exchange Commission (SEC) remains a critical factor shaping the cryptocurrency sector. As analysts explore the intricacies of these influences, notable changes emerge in market behavior and institutional approaches.

Cryptocurrency Specialists Analyze SEC Influence and Federal Monetary Strategies

Key figures like Michael Saylor from MicroStrategy and Arthur Hayes, co-founder of BitMEX, offer valuable perspectives on how these developments could affect leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

Insights on the Future of the Cryptocurrency Market from Industry Leaders

Michael Saylor, executive chairman and co-founder of MicroStrategy, anticipates a significant summer for the cryptocurrency industry. He predicts that the Securities and Exchange Commission (SEC) will likely classify Ethereum as a security.

As a result, Saylor suggests that the SEC may reject several asset managers’ spot Ethereum ETF applications, including those from BlackRock. These insights were shared during his presentation at the MicroStrategy World 2024 conference.

Saylor extends his forecast to other prominent cryptocurrencies such as BNB, Solana (SOL), XRP, and Cardano (ADA), suggesting that they may also face similar designations as unregistered securities. According to Saylor, only Bitcoin (BTC) enjoys full institutional acceptance, being regarded as the one universal institutional-grade asset.

Saylor further asserts, None of them will be wrapped by a spot ETF, none of them will ever be accepted by Wall Street.

Meanwhile, there has been a notable shift in the market’s expectations regarding the Securities and Exchange Commission’s (SEC) decision on spot Ethereum ETFs. Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, remarked that the odds of ETH ETF approval by the May deadline are down to 35%.

This growing pessimism is not limited to analysts but is also echoed by the issuers themselves. In April, Jan van Eck, the founder and CEO of asset manager VanEck, expressed skepticism about the SEC’s likelihood of approving spot Ethereum ETFs. His concerns carry weight, given that his company, along with 21Shares, is eagerly awaiting Ethereum ETF approval by the end of this month.

The situation has become increasingly complex due to ongoing legal disputes between the SEC and Ethereum-based projects such as Uniswap and ConsenSys, the parent company of MetaMask. Reports from BeInCrypto indicate that the SEC issued a Wells notice for these two companies, further adding to the uncertainty surrounding the regulatory landscape for Ethereum and its related products.