The founder of the OnChain Capital, Ran NeuNer gives his point of view over the announcement that is upon us about the ETF verdicts by the SEC. The SEC is going to put forth the decision for the crypto ETFs that have been proposed with amendments. The VanEck ETF is the highlight of the decision which is to come out between now till Monday. Ran NeuNer has some words over the matter that the decision would mean a lot for all the crypto ETFs and cryptos as a whole enabling the head start towards major adoption of the cryptos. This though might seem the bright end of the current dark tunnel, there is a very little chance that we reach the end of the tunnel in the first place to check out the day light of the crypto advent. BlockPublisher took to the task to gather some comments over the matter from the man himself.
The ETF verdicts from the SEC are upon us which can decide the future progress pace for the cryptos. I hope we will see a favourable decision but there are not any bullish chances for it.
The SEC has been judging ETFs form quite sometime including the great Winklevoss ETF and other similar ones, shutting down the most of them while putting the rest on hold. This has ignited quite a fury inside the cryot fanbase which is justifiable to some extent. The SEC seemingly has a little knowledge about the crypto protocols or is just targeting the new trend favouring the old financial structures. Owing to these situations NeuNer describes that it is highly unlikely that we are presented with the unpleasant verdict about the ETFs.
The other factor that NeuNer describes opposing anything good coming up for the cryptos that we are still heading towards the bearish market which does not seem to be controlled in any way. This has indeed taken down the cryptos for the momentum the digital assets had prior has faded away entirely. According to Ran NeuNer, in case someone invested in cryptos a year prior, they would be down on investment by an alarming amount of 10%. Ran NeuNer has some words over it as described by over the very situation.
If you bought Bitcoin a year ago today- you are down 10% on your investment.
Though cryptos will survive this takedown by unfortunate circumstances, it is a matter to notes from that if this sticks with the cryptos for too long we might not witness the dramatic comeback form the financial survivors anymore.