The year 2024 started on a positive note with the approval of a spot ETF for Bitcoin, marking a significant milestone for the cryptocurrency market.
In 2024, according to crypto analyst Lark Davis, also known as “Crypto Lark,” there’s anticipation of significant events in the crypto world. Notably, the year started on a positive note with the approval of a spot ETF for Bitcoin. The U.S. Securities and Exchange Commission (SEC) gave the green light to the first U.S.-listed exchange-traded funds (ETFs) tracking Bitcoin. This approval marks a new era for Bitcoin and the broader crypto industry, bringing in positive changes.
Ethereum spot ETFs coming in May (first final deadline from SEC)!
ETH futures already approved… so that means ETH is already classified as not a security.
EIP 4844 coming to lower layer two fees big time!
Bitcoin halving coming…
Probably an XRP ETF as it is also not a…
— Lark Davis (@TheCryptoLark) January 13, 2024
SEC Approval: A Decade-Long Struggle for Crypto ETFs
The recent approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission (SEC) marks the end of a decade-long battle between the SEC and the crypto industry. Overcoming this significant hurdle has injected a wave of optimism into the crypto community, sparking hope for the approval of spot ETFs for other major cryptocurrencies.
Anticipation for Ethereum Spot ETFs: Looking ahead, Crypto Lark is optimistic about the arrival of Ethereum spot ETFs, suggesting a possible approval in May—the first final deadline set by the SEC. This anticipation reflects the industry’s eagerness for further advancements in the ETF space beyond Bitcoin.
A16Z General Counsel’s Perspective: Miles Jennings, the general counsel for A16Z, sees the SEC’s approval of Ethereum futures products as a noteworthy development. According to Jennings, the SEC’s decision on ETH futures implies a shift in its stance on whether Ethereum is considered a security, setting the stage for potential future developments in the cryptocurrency space.
Crypto Lark’s Predictions: XRP ETF and Key 2024 Events
Crypto Lark aligns with the notion that the introduction of Ethereum (ETH) futures ETFs implies a potential shift in the perception of ETH as a security. Building on this, Crypto Lark speculates that an XRP ETF might be in the works, drawing from the landmark ruling in the Ripple SEC lawsuit that affirmed XRP’s non-security status.
Following the debut of Bitcoin spot ETFs, Steve McClurg, co-founder and chief investment officer of Valkyrie Funds, hinted at the possibility of Ethereum or XRP exchange-traded funds (ETFs). However, the timing, sequence, and feasibility of these events remain uncertain, leaving the XRP community and the wider crypto sphere in anticipation for the next significant ETF approval post-Bitcoin.
In addition to ETF developments, Lark Davis points out other pivotal events expected in 2024. These include the Ethereum Dencun upgrade and the Bitcoin halving, adding further layers of anticipation and potential impact to the dynamic landscape of the cryptocurrency market.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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