Crypto experts predict a more welcoming regulatory landscape by 2025, following recent positive developments. Bloomberg policy analyst Nathan Dean suggests that crypto exchange-traded fund (ETF) approvals and stablecoin frameworks could be finalized by the end of 2022. However, he warns that the U.S. Securities and Exchange Commission still holds the power to regulate projects that classify their tokens as commodities. Meanwhile, the first Bitcoin and Ethereum exchange-traded products (ETPs) have debuted on the London Stock Exchange, and Hong Kong’s Securities & Futures Commission is considering allowing its spot Ether ETF issuers to stake custodied Ether.