After spot bitcoin ETFs were approved, Ethereum ETFs will shoot ETH

After spot bitcoin ETFs were approved, Ethereum ETFs will shoot ETH

The SEC is still struggling. with very high volatility (rather on the rise) in cryptocurrency market prices in recent days, it is difficult to quote a quote without quickly becoming obsolete. Even more with verification of spot bitcoin ETFs January 10 this year. But one clear trend evolves equally on the ethersEthereum (ETH): Bullish Explosion! PUSH perspective potential adoptionEthereum spot ETF causes prices to rise by tens of percent.

May is going to be hot for the SEC, this time for Ethereum

At the time of writing these lines, he was ETH price welcome them $2,700. A quote highlight that was not seen from the beginning May 2022. So, over 1 sliding month, the ether lasted nicely +20%and even +100% for the whole year.

Because if the president Securities and Exchange Commission (DRY), Gary Gensler, Just Sold a Bitcoin ETF Spot this January 10th, the eyes seem to be turned towards each other May 2024.

It is on this date that many requests forEthereum spot ETFwill reach them Deadline. This means when the SEC must necessarily approve or reject these exchange-traded funds based on basic true ethers.

Noticed the ETH ETF and the ‘Lag’ in the Rise of BTC: Driving the Ether Explosion?

To stay first on topic Exchange fundssector specialist at Bloomberg, Eric Balchunasreiterated to crypto-media Cointelegraph that he “does not see a scenario in which ETF point Bitcoin would be approved, but not ETFs point Ether.”

The ETF Expert thus estimates that there is “ 70% chance » that the spot Ethereum exchange-traded fund is approved in May. And the second factor can also be the driving force behind the growth of ether prices.

ETH indeed does “underpowered” compared to BTC in 2023. Because ifether he already has a nice one +100% more than one year as mentioned earlier bitcoin exceeded +170% over a year! Therefore, many observers believe that it now exists more “room to grow” on Vitalik Buterin’s side of the blockchain network, rather than on Satoshi Nakamoto’s side.

AND obstacle, still the same (and size), however, it is created on the beautiful path of the Ethereum spot ETF. Because when we see everyone malice and Harsh criticism of Bitcoin by Gary Genslerin its statement after its capitulation to the spot BTC ETF, we say that Ethereum risks that even more difficult to pass as the king of cryptocurrencies. Mainly that the president of the SEC is unable to say whether the ether is yes or no safety (securities).

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