SEC remains silent on Ethereum ETF application, issuers worried

This week, the SEC remained silent on the application for spot Ethereum ETF, which made issuers and Ethereum fans feel uneasy. The expected positive response may push up the price of Ethereum.

ETF Store President Nate Geraci predicted that although the SEC review process is as mysterious as before, approval may be imminent, and the result may be known next week. He is confident about this.

Bloomberg ETF strategist Eric Balchunas likened this situation to a baseball game suspended due to rain, and everything is ready, just waiting for the SEC to make the final decision. Market participants are preparing for the battle. Kraken expects that the launch of the ETF may attract $1 billion in funds per month, and industry giants such as Justin Sun have also hoarded Ethereum and waited for the rise.

Currently, the price of Ethereum has risen slightly to $3,123, with a market value of $375 billion. If it wants to return to the $4,000 mark, it needs to effectively break through the $3,200 resistance level. The market is closely watching the SEC's movements and regards it as a key catalyst for market trends.

In summary, the SEC's ambiguous attitude towards Ethereum ETF applications has filled the market with expectations and tension. Analysts generally expect that approval is imminent, which may trigger a flood of funds and a surge in prices, laying the foundation for the future of Ethereum's financial market.

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