The ETH ETF event has played out
The news on the ETH ETF front is already done and dusted and as a result a number of ETF applications have got approved by the SEC in the USA.
This approval comes a couple of months after the BTC ETF got approved.
This approval was kind of sudden and many people did not expect the SEC to approve the ETH ETF applications.
The gossip doing the rounds has been that there may be quite a bit of political pressure involved in the approval push.
This could very well be true as Trump has been projecting himself as a pro crypto presidential candidate. Since elections are fought on an issue to issue basis so this approval could very well be Biden’s way of projecting himself as pro crypto or at least not anti crypto.
What ETH ETF offers to the users
Eligible investors would be able to invest in the ETF of world’s 2nd largest crypto by market cap. Thus now investors would be able to give their money to a SEC approved ETF provider.
The approved ETF provider would use the money to buy and hold ETH worth the amount being deposited by the various investors.
All this looks quite good if you are in the USA as that is the country where the ETH ETF got approved.
While this may be an opportunity to invest if you are a qualifying investor willing to do the KYC documentation before you can even become an ETH etf investor.
Those outside the USA are not eligible for this opportunity.
Every etf investor would have to take the leaf of faith as they would be the one paying however the ETF provider would hold and manage the ETF.
Thus an ETF may be an instrument to ride the volatility and growth of the underlying asset that is ETH in this case however the investor never really owns the ETH that he or she is invested into.
What leodex offers is a lot more interesting
By way of using Leodex.io the decentralized crypto exchange an investor can actually own the ETH or BTC.
Not only that since leoex.io is built over the Maya Protocol so a user can trade and hold all the assets listed on the Maya protocol which is also a DEX
The best part of using Leodex.io is that
There is no need for any KYC to be done in order to start using this Decentralized exchange.
Anyone from any part of the world can start using Leodex and there is no restriction on any user from any part of the world.
All trades on Leodex start and end from the user's self custodial wallet. This means that the user does not need to send the assets to a centralized exchange in order to trade them.
An ETF and a DEX are quite different
Indeed comparing an ETF with a DEX is like comparing apples with oranges as they are designed as two different products.
Yet Leodex as a decentralized exchange comes closer to the idea of letting a user own his crypto in a self custodial wallet and manage his own keys.
If you believe in crypto then always remember not your keys not your crypto and leodex is clearly in sync with this ideology.