ethereum expert Steven Nerayoff has attacked ethereum again, but this time, it's about the possibility of an eth ETF launching. After bitcoin spot ETFs gained approval from the United States Securities and Exchange Commission (SEC) on January 10, cryptocurrency enthusiasts are starting to look at eth as the next possible candidate for approval of ETFs. However, Nerayoff believes this will not happen.
ethereum is not ready for ETFs
The @WhaleChart account took to X (formerly Twitter) to ask its more than 400,000 followers which crypto they would like to see gain ETF approval after bitcoin. Options ranged from ethereum, Cardano, XRP, and meme coins. And naturally, the eth option took the lead with 43.4% of the total votes at the time of writing.
However, Steven Nerayoff disagrees that eth is next to get an ETF. In it answer According to Whale Chart, the ethereum expert who has made headlines for threatening to expose founders for fraud, said that ethereum will not be the next asset to get ETF approval.
Instead, he believes that others on the list, such as Cardano and XRP, were more promising to be approved for an ETF. “While I can assure you that ethereum will not be the next ETF on the horizon, I am confident that the XRP and Cardano communities are more than ready,” Nerayoff said.
He once again reiterates his fraud allegations against the eth founders as a reason why an eth ETF would not come. “We need to make sure we avoid fraudulent machines, like ethereum,” said the eth expert.
<img decoding="async" class="alignnone size-medium" src="https://technicalterrence.com/wp-content/uploads/2024/01/Vitalik-Buterin39s-New-Proposal-Draws-Criticism-From-Ethereum-Developers-Here39s" alt="Tradingview.com ethereum Price Chart” width=”3266″ height=”1530″/>
eth price shows strength against btc | Source: ETHUSD on Tradingview.com
bitcoin is the undeniable game changer
In contrast to his constant harsh criticism of ethereum and its founders, Nerayoff takes a more favorable view of its predecessor, bitcoin. Following the Approval of bitcoin Spot ETFs, ethereum Expert Turned to X to say that “bitcoin is undoubtedly a game changer for humanity and a revolution in technology.”
This was in response to a 2017 tweet in which Nerayoff revealed that the SEC rejected a bitcoin ETF. About six years later, the regulator would approve btc spot ETFs. He took the opportunity to reflect on the fact that “the cryptocurrency market remains as unpredictable as ever.”
However, expectations for an eth ETF remain high, with companies like ethereum/ethereum-spot-etf-blackrock/” rel=”nofollow noopener” target=”_blank”>Black Rock, ethereum/ethereum-etf-valkyrie-halts-purchase-of-eth-futures-contracts/” rel=”nofollow noopener” target=”_blank”>valkyrieand ethereum-etf/” rel=”nofollow noopener” target=”_blank”>Fidelity already in the race for a Spot ethereum ETF. Bloomberg analysts James Seyffart and Eric Balchunas have said that ethereum-etf/” rel=”nofollow noopener” target=”_blank”>expect an eth ETF to be approved in mid-2024.
Featured image from Shanghaiist, chart from Tradingview.com
