The crypto community on Twitter exploded with reactions after the SEC approved eight spot Ethereum ETFs on Thursday. This news followed the earlier approval of Bitcoin ETFs in January 2024 and the recent U.S. House of Representatives’ passage of the FIT 21 – Financial Innovation and Technology for the 21st Century Act.
Lawmakers from both parties have urged the SEC to treat spot Ethereum ETFs with the same consideration as Bitcoin ETFs. The bipartisan push appears to have borne fruit, marking a significant regulatory milestone for the crypto industry.
Crypto Twitter was abuzz with celebration following the SEC’s approval. Enthusiasts and industry leaders alike took to the platform to express their excitement and optimism about the future of Ethereum and the broader crypto market.
While many celebrated the SEC’s decision, others adopted a more cautious tone, reminding the community of the potential regulatory challenges ahead and the need for prudent optimism.
Notably, the individual in MOG shades who questioned former President Trump about keeping crypto in the U.S. earlier this month garnered attention. Some industry observers believe that this interaction might have contributed to the shifting political momentum around crypto, potentially influencing the SEC’s decision.