The winners of the approval of Ethereum ETFs

Numerous altcoins are likely to benefit from this pleasing development. This #SEC decision means much more for Decentralized Finance (#DeFi) than the approval of spot #Bitcoin ETFs did in January. This is because an ETH ETF will also legitimize altcoins and catapult them to the next stage of the bull market rally.

In addition to #Ethereum itself, Ethereum Layer-2s - including #Optimism and #Arbitrum - are also likely to be beneficiaries, as rollups have become an integral part of the entire Ethereum ecosystem and are therefore inseparable from its success. 
DeFi pioneers such as #Uniswap or #Aave, directly connected to the #EVM technology (Ethereum Virtual Machine), are also likely to benefit, as ETF approval also gives more legitimacy to other projects building on this blockchain.

In general, I believe that all EVM-compatible projects and blockchains - such as #Avalanche or #Polygon - will outperform closed ecosystems. On the one hand, ETF approval gives Ethereum a form of regulatory clarity, and on the other hand, it generates hype around the world's second-largest blockchain.

So far, DeFi has not achieved the hoped-for mainstream adoption, but the approval of ETH-ETFs will change this, allowing everyday users to enter this area.

For example, this is positive for decentralized exchanges such as #SushiSwap or #Balancer, as well as for credit/lending protocols such as #Aave and #Compound.

On the other hand, Ethereum competitors - including #Solana - might face difficulties. While a spot ETH ETF creates more regulatory clarity for decentralized blockchains, Ethereum is now likely to become the leading blockchain in the DeFi space, putting competitors at a significant disadvantage.
#SEC #DeFi #Bitcoin