Bernstein analysts Gautam Chhugani and Mahika Sapra believe the United States securities regulator likely approved the spot Ether ETFs to avoid a legal battle.
The United States securities regulator’s decision to approve the spot Ether (ETH) exchange-traded funds may not have been a last-minute decision driven by political pressure, according to analysts at research and brokerage firm Bernstein.
One of the leading theories behind the Securities and Exchange Commission’s sudden change in tone toward spot Ether ETFs in May was increased political pressure from the Democrats to win over swing voters in the lead-up to the U.S. election this November.
However, that narrative began looking less credible after President Joe Biden vetoed the SEC’s Staff Accounting Bulletin (SAB) No. 121 repeal bill, Bernstein analysts Gautam Chhugani and Mahika Sapra wrot in a June 3 report.
