In a recent report, there's an expectation of a deadline extension, similar to the Bitcoin ETF, with the U.S. Securities and Exchange Commission (SEC) until May 23. Geoff Kendrick, Head of FX Research at Standard Chartered, also addressed recent speculation triggered by the significant sell-off of the Grayscale Bitcoin Trust (GBTC) following its conversion into a Bitcoin spot ETF. Bitcoin experienced a decline of approximately 10% after the approval announcement of the Bitcoin ETF. This drop is attributed to investors selling GBTC shares. Nevertheless, Kendrick is optimistic that the scenario will change when Grayscale converts its Ethereum Trust into an ETH spot ETF.
Source: The internet; it's purely speculative, and only time will tell how it unfolds. Let's wait and see how it develops. Thank you for reading, feel free to leave a like or subscribe – it's also free! ✌️🦾🫶
