Analysts at research and brokerage firm Bernstein believe the recent approval of spot Ether ETFs by the U.S. Securities and Exchange Commission (SEC) likely wasn’t a politically motivated last-minute decision.

Their reasoning centers on a more pragmatic approach by the SEC, aiming to avoid potential legal battles with applicants. The report highlights the surprise among both Bernstein and several spot Ether ETF applicants regarding the sudden approval. The radio silence from SEC staff leading up to the decision was interpreted as a likely denial, making the last-minute request to refile applications even more unexpected.

Bernstein suggests the SEC’s approval signifies a shift towards practicality. This aligns with the positive sentiment expressed by the analysts, who view the decision as a “great outcome for the industry.”

The report sheds light on the secretive nature of the approval process. Even major players in the field, like the consulted ETF issuers, were caught off guard by the SEC’s move. This lack of transparency might be a point of discussion in the future, especially considering the significant impact such decisions have on the financial landscape.

Overall, Bernstein’s analysis offers an alternative perspective on the SEC’s decision. It downplays the role of political pressure and emphasizes a more practical approach by the regulatory body. While the news is undoubtedly positive for the cryptocurrency industry, questions regarding the approval process itself remain.