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🚨 SEC Updates Ethereum ETF Filings for BlackRock, Fidelity 🚨 The SEC just updated key Ethereum ETF filings for BlackRock, Fidelity, Grayscale, and Bitwise. This week might see the approval of a spot Ethereum ETF, creating a buzz in the crypto world. 🌐 Key Points: 1. SEC Requests Public Comments: The SEC wants public input on the spot Ethereum #ETF applications. Filings cover investor asset security, compliance, and redemption procedures. 2. First Official Comment: The SEC's tone is more positive, hinting at possible approval. Focus on protecting investors and ensuring public interest. 3. VanEck and Ark 21Shares: Decisions expected this week. Approval process might take weeks or months. Stay tuned for more crypto insights! 👍 Disclaimer: This post is for informational purposes only and not financial advice. Generous contributions help provide better investment insights. 💡 $ETH

🚨 SEC Updates Ethereum ETF Filings for BlackRock, Fidelity 🚨

The SEC just updated key Ethereum ETF filings for BlackRock, Fidelity, Grayscale, and Bitwise. This week might see the approval of a spot Ethereum ETF, creating a buzz in the crypto world. 🌐

Key Points:

1. SEC Requests Public Comments:

The SEC wants public input on the spot Ethereum #ETF applications.

Filings cover investor asset security, compliance, and redemption procedures.

2. First Official Comment:

The SEC's tone is more positive, hinting at possible approval.

Focus on protecting investors and ensuring public interest.

3. VanEck and Ark 21Shares:

Decisions expected this week.

Approval process might take weeks or months.

Stay tuned for more crypto insights! 👍

Disclaimer: This post is for informational purposes only and not financial advice. Generous contributions help provide better investment insights. 💡

$ETH

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🚀 Ethereum and Bitcoin Correlation: Will Ether Price Pick Up Pace? 🚀 After the SEC approved Ethereum ETFs, Ether has yet to show signs of growth. For Bitcoin, it took almost a month post-ETF approval before the price surged to an all-time high of $73,738.00. In September 2022, Ethereum moved to proof of stake (PoS), making it more secure and sustainable. PoS uses staking instead of computational power, replacing miners with validators who stake their cryptocurrency to create new blocks. BTC/ETH Correlation The BTC/ETH correlation shows the price relationship between Bitcoin and Ethereum. The correlation coefficient measures how their prices move relative to each other, ranging from -1 to 1. A coefficient of 1 means BTC and ETH move in the same direction, -1 means they move in opposite directions, and 0 means no correlation. Historical data reveals that Ethereum tends to outperform Bitcoin in bull markets and underperform in bear markets. ETH was priced above 0.05 BTC during the bull runs of 2018 and 2021, with this level serving as strong support. Conversely, the 0.08 BTC level has been significant resistance. Recent Trends A Coinbase report shows that the $BTC / $ETH correlation has been declining since early 2023. Factors like the adoption of Ethereum-based dApps, the popularity of NFTs, and Ethereum's shift to PoS are driving this divergence. According to IntoTheBlock, 95% of current ETH positions are profitable, with a price increase of 30% over the past week. ETH whales are making significant moves, especially with the increased odds of ETF approval. Recently, ETH recorded an on-chain trading volume of $15.98 billion, the highest since June 2022, with 90% from transactions exceeding $100,000. Ethereum ETFs Expectations The approval of ETH ETFs marks a milestone in cryptocurrency acceptance, likely influencing increased activity among ETH whales. The substantial on-chain trading volumes suggest growing institutional and investor confidence in Ethereum. Disclaimer: This is not financial advice. #bitcoin #Binance
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