Ethereum hits Wall Street: SEC approves Ether ETFs ✅😳; Cash App aims to become a full-service digital bank 👀🏦; Cash holds strong as credit cards surge and mobile P2P growth plateaus 💸📊

FinTech is Eating the World, 24 May

Hey Everyone,

Good morning & happy Saturday! We’re finishing off another wild FinTech week on a weekend this time, but it’s the best issue yet - fits like a cheery on the cake 🍒 Today we’re going to look at Ethereum hitting Wall Street as SEC approves Ether ETFs (what it means & what’s next + some bonus reads on Ether, Bitcoin & more!), Cash App that aims to become a full-service digital bank (what’s the plan + a bonus dive into Block & their latest financials), and cash that still holds strong as credit cards surge and mobile P2P growth plateaus (a quick look at the latest trends + a bonus dive into the player that’s dominating the space). Let’s jump straight into the brilliant stuff 🌶

Ethereum hits Wall Street: SEC approves Ether ETFs in a landmark decision ✅😳

The news 🗞️ In a surprising turn of events, the U.S. Securities and Exchange Commission (SEC) has approved eight spot Ethereum exchange-traded funds (ETFs) from major players like BlackRock BLK 0.00%↑, Fidelity FNF 0.00%↑, Grayscale GBTC 0.00%↑ , and others.

This decision comes just four months after the agency greenlit the first spot Bitcoin ETFs and signals a significant shift in the regulatory landscape for cryptocurrencies in the United States.

Let’s take a quick look at this and see why it matters.