Ethereum ETF is positive
ETH may be approved by the U.S. Securities and Exchange Commission (SEC) on July 4, and the cryptocurrency industry is eagerly awaiting the debut of Ethereum exchange-traded funds (ETFs). The SEC may approve a spot Ethereum ETF as early as July 4.
This development comes after discussions between regulators, asset management companies, industry insiders and other relevant parties. SEC Chairman Gary Gensler previously expressed his confidence in the approval process for spot Ethereum ETFs, noting that asset management companies are currently under pressure.
Asset management companies must provide complete disclosures to make the registration statement valid. While there is still work to be done, Gensler said everything is going well. Recently, company executives awaiting approval revealed that the filing process currently only needs to resolve some "minor" issues. However, the ETF cannot be launched until these documents are authorized.
How many asset management companies are seeking approval from the U.S. Securities and Exchange Commission (SEC)? Currently, eight asset management companies are waiting for SEC approval for Ethereum spot ETFs. These companies include BlackRock, VanEck, Franklin Templeton, and others.
Templeton), Fidelity, ARK 21Shares, Invesco, Bitwise and Grayscale
Investments。
After three months of continuous volatility, the negative sentiment in the market has reached its peak. Currently, there is almost no new narrative in the market to support the trend, and the only hope lies in the approval of the Ethereum ETF. If this approval is achieved, I believe it will help reverse the market's decline and hopefully re-enter a period of healthy growth.
darkness before dawn?
In the coming July, although the market as a whole may rebound, the magnitude is not expected to be too large. If the rebound does come and can stabilize around 66,000, it will be a good opportunity for altcoins to catch a small market.
We can take the opportunity to do some swing trading and seize these short but powerful profit opportunities. From August to October, the US election is approaching and the market may be affected to a certain extent. Even if there is no interest rate cut in September, considering the economic situation after the election, a rate cut in November is almost inevitable.
By then, with the interest rate cut and the US election, various uncertainties will be gradually eliminated. Therefore, we should regard the current decline as an opportunity, because there will be more suitable price chips to choose from. The passage of the Bitcoin spot ETF will bring a large amount of capital inflows, and coupled with the gradual emergence of the trend of deglobalization, Bitcoin may become another international settlement system besides gold. Therefore, from the overall direction, there is no need to panic.
