Ether (ETH) has ventured above $3,900 on multiple occasions in the past seven days but has been unable to sustain this level. The market seemingly anticipated a boost from the spot Ethereum exchange-traded fund (ETF) approval by the United States Securities and Exchange Commission (SEC), as Ether’s gains occurred on May 21, two days before the decision.
Ethereum spot ETF approval: not everything came out as expected
One could argue that the spot ETF traders are still awaiting the respective Form S-1 approval for each of the funds. Senior Bloomberg ETF analyst Eric Balchunas expects the Ethereum spot instruments to start trading by July 4, while his colleague James Seyffart noted that BlackRock’s updated S-1 on May 29 shows “issuers and SEC are working towards spot Ethereum ETF launches.”
#Megadrop #ETHETFsApproved #EarnFreeCrypto2024 #BinanceLaunchpool #BlackRock $ETH
