Securitize: More institutions will enter RWA! The approval of Ethereum spot ETF is of great significance to RWA

The U.S. Securities and Exchange Commission (SEC) officially approved the 19b-4 documents (changes in exchange rules) containing eight Ethereum spot ETF applications including BlackRock, Fidelity, etc., An important step has been taken for the listing of Ethereum spot ETF.

Note: The official listing and trading still need to wait for another necessary S-1 registration statement document to be approved by the SEC, and the time has not yet been determined.

The approval of the Ethereum spot ETF is of great significance to the RWA company

On the occasion of the SEC's green light, the RWA protocol Ondo Finance governance token ONDO surged nearly 40% last week, setting a new record high. Carlos Domingo, CEO of Securitize, an RWA company backed by BlackRock, analyzed that the approval of the Ethereum spot ETF has clearly established the regulatory status of Ethereum as a commodity, which will have a huge impact on companies that tokenize assets on Ethereum. Influence.

“The most important thing is not only that you can trade the Ethereum ETF, but at least from an institutional perspective, Ethereum is now completely safe because the gas token (ETH) has effectively no security risk. "

In March this year, BlackRock joined hands with Securitize to launch the first asset tokenization fund "BlackRock USD Institutional Digital Liquidity Fund" (BUIDL) on Ethereum. ONDO Finance launched it on March 27. On the same day, it added US$95 million in BUIDL tokens to its tokenized fund product OUSG.

In light of the approval of the Ethereum spot ETF, Carlos Domingo said that he expects more sound financial companies to get involved in the tokenization field as recent regulatory concerns are removed. Compared with the Bitcoin spot ETF, Ethereum The approval of the spot ETF is more important for tokenization, which makes it very clear that ETH is not a security, which means that using Ethereum will be safe from a regulatory perspective.

Other cryptocurrency ETF products are expected to come

Jaret Seiberg of the investment bank TDCowen’s Washington research group released a report stating that since the Bitcoin spot ETF was approved earlier this year, the Ethereum spot ETF The approval is inevitable, but the time is about 6 months earlier than expected. In the next year, an ETF product containing a basket of cryptocurrencies may appear, which may only cover Bitcoin, Ethereum, or may cover more Multiple currencies.

However, TDCowen believes that this move does not represent a change in the SEC’s overall stance on cryptocurrency. SEC Chairman Gary Gensler, who is critical of cryptocurrency, just issued a statement on the 22nd, strongly opposing any move that may weaken the SEC’s power. Cryptocurrency Bill Financial Innovation and Technology for the 21st Century (FIT21).

Despite the potential setbacks for the SEC, TDCowen predicts that the SEC will maintain a Democratic majority through 2026 and will continue to file lawsuits against cryptocurrency trading platforms that the SEC believes provide trading in unregistered security tokens.

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