Investment bank TD Cowen's research group noted that the latest approval of Ethereum ETFs is an expected development following the approval of Bitcoin ETFs earlier this year.
The approval, which came nearly six months earlier than expected, was seen as inevitable after the SEC approved Ethereum Futures ETFs.
Gensler said:
“The crypto industry's track record of failures, scams, and bankruptcies is not because we don't have rules, or because the rules are unclear.
“This is because many investors in the crypto industry do not play by the rules.”
