Tesla still holds its Bitcoin worth $387M in Q4 2023

While there were initial concerns about potential regulatory barriers for Ethereum ETFs, Commissioner Pierce’s remarks suggest a possible shift toward a more straightforward approval process.

This could be good news for major players in the space, like BlackRock and Fidelity, who have applied for spot Ether ETFs.

Big names in the financial industry, such as BlackRock and Fidelity, have expressed an interest in Ethereum ETFs and are seeking SEC approval.

The upbeat tone of Commissioner Pierce and industry insiders reflects confidence that Ethereum ETFs will follow a similar path to their Bitcoin counterparts.

Tesla’s notable position in Bitcoin ownership has solidified, with the company remaining the third-largest public holder of the crypto.

According to the most recent data, Tesla owns over 9,720 BTC, placing it in a strong position among public Bitcoin holders.

Elon Musk’s company, Tesla, entered the Bitcoin market in February 2021, purchasing 43,000 BTC. However, the company has decided to sell 75% of its Bitcoin holdings in the second quarter of 2022.

This strategic move was made to increase cash reserves during a time of uncertainty caused by the COVID-19 pandemic.