On May 23, the US Securities and Exchange Commission approved the first spot Ethereum ETFs, a significant milestone for the cryptocurrency market. But while it’s broadly a positive decision, it’s no outright win for the crypto community. 

The move follows the earlier approval of bitcoin ETFs in January. Taken together, the two approvals certainly seem to signal a shift in the regulator’s approach towards digital assets, which can only lead to greater adoption. 

However, the wait for other cryptocurrency ETFs is likely to be much longer than the wait for Ethereum’s. The SEC’s approval of Ethereum ETFs also represents a glimmer of a dawning, developing regulatory landscape…

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