$ETH "ETF approved, so why isn't $ETH at $10k?" 📊

While ETFs have been approved, they haven’t launched yet, meaning the expected influx of new capital hasn't started. Since the SEC's pivot earlier this week, those anticipating approval have likely already bought in, with the price still up 21% for the week.

Launching an ETF requires SEC approval on two filings: 19b-4 (exchange rule changes) and S-1 (registration statement).

Only the 19b-4 was approved yesterday, not the S-1. In comparison, the S-1 for BTC was ready before the 19b-4, leading to a quicker approval and trading commencement the next day.

Additionally, the approval might still face challenges. Remember, when $BTC was approved in January, its price didn't skyrocket immediately. Instead, we saw a significant price increase leading up to and shortly after the event, followed by a market selloff as the event, already priced in, occurred, and then a gradual market adjustment to the event's bullish implications over time.

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