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Consensus 2024 Week: The House Passed a Market Structure Bill

One other note: Last week the SEC approved the 19b-4 forms from exchanges hoping to list and trade spot ether ETF products. It still has to approve the S-1 forms by the issuers themselves to create the products. There’s been speculation that this too shows a shift in the political winds around crypto. But it is worth remembering that the SEC is supposed to be an independent agency, and any suggestion that the administration is influencing it – either before, to reject the ETFs, or more recently, to approve them – suggests something far more troubling than just D.C.’s reception to crypto. There’s also so far been zero evidence provided to support the idea that the Biden administration leaned on the SEC to approve the ether ETFs.

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