According to TechFlow, 10x Research reported that the U.S. Securities and Exchange Commission (SEC) has approved the Ethereum ETF, which will begin trading on July 23. Looking back at history, from the launch of Bitcoin futures in December 2017 to the listing of spot Bitcoin ETFs in January 2024, similar events often trigger market adjustments shortly after listing.
The report pointed out that when the SEC asked exchanges to update their 19b-4 application documents on May 20, the probability of Ethereum ETF approval jumped from 25% to 75%. In the following 7 days, the open interest of ETH futures increased by 500,000, and the total amount rose from US$8.8 billion to US$13 billion. The price of ETH also rose from US$3,065 to a high of US$3,959. Analysts reminded investors to pay attention to the short-term market fluctuations that may occur after the listing of ETH ETF.
