Ethereum ETF Hangs in Balance, Millionaire Strategy Falters
February 11, 2025
In one story, the US Securities and Exchange Commission (SEC) has postponed the approval of Ethereum exchange-traded fund (ETF) options until April 2025, following a filing by Nasdaq seeking regulatory approval for iShares Ethereum Trust (ETHA) options. This delay contrasts with the approval of several Bitcoin ETF options by the regulator. The potential approval of Ethereum ETF options is anticipated to boost institutional adoption around Ethereum, as spot ETH ETFs have already attracted nearly $10 billion in net assets. The delay is speculated to be linked to the appointment of a new SEC Chair, Paul Atkins, following Gary Gensler's resignation, with expectations that pending approvals will progress under Atkins' leadership.
On the other hand, the second article explores an individual's experience following investment advice akin to "The Peter Schiff Playbook." The author recounts trading 20 BTC for gold in 2016, inspired by Peter Schiff's advocacy for gold over Bitcoin. The individual reflects on the missed opportunity, considering the substantial appreciation of Bitcoin since the trade. Despite the setback, the author acknowledges the value of gold in a diversified portfolio but criticizes the notion of an exclusive gold-versus-Bitcoin debate, emphasizing the benefits of both assets. The article delves into comparing borrowing against Bitcoin and gold, highlighting Bitcoin's superior collateral value and lower borrowing costs compared to gold.
In the Ethereum-focused story, the delay in approving ETF options coincides with Ethereum facing downward price pressure, dropping below $3,000 and resulting in reduced wallet profitability. However, market analysts remain optimistic about Ethereum's performance once market conditions stabilize. Conversely, the narrative in the second article centers on the individual's realization of the missed potential gains from holding onto Bitcoin instead of trading it for gold, following advice aligned with the Peter Schiff Playbook. The author contemplates the future trajectory of Bitcoin and gold, underscoring Bitcoin's attractiveness as an investment asset with favorable borrowing conditions compared to gold.
In summary, the SEC's postponement of Ethereum ETF options approval and the individual's experience following advice reminiscent of the Peter Schiff Playbook highlight contrasting perspectives on cryptocurrency and traditional assets. The Ethereum-related delay signifies regulatory considerations impacting institutional adoption, while the personal anecdote underscores the implications of investment decisions influenced by prominent figures like Peter Schiff. Both stories underscore the dynamic nature of financial markets and the importance of informed decision-making in navigating investment opportunities.
Links to the stories discussed: - SEC Delays Approval of Ethereum ETF Options as ETH Struggles Under $3,000 - How Running “The Peter Schiff Playbook”Cost Me $3 million (and counting)…