Last night, Reuters revealed that the SEC will directly refuse to approve Ethereum's spot ETF next month, which also caused a flash crash of ETH last night.

This news is likely to be true, otherwise Ethereum developer Consensys cannot directly sue the SEC, which shows that they are really anxious this time. On April 10, the SEC sent a wells notice to Consensys, saying that Metamask violated the Securities Law.

At that time, the market generally believed that this was a precursor to the SEC's imminent rejection of the Ethereum ETF. Judging from the news from Reuters and the performance of Consensys's counter-appeal, this wave of rejection is definitely set in stone, but I believe that the major applicants The agency has been prepared for this. Last month, Bitwise said that it would be rejected in May. Therefore, the weak trend of ETH during this period has actually priced in this negative news. In addition, various whales, such as Sun Ge, have been frantically adding ETH positions recently. It is very likely that they have judged that the negative news will be exhausted when the news of ETF rejection comes out. After that, ETH has the next stage of ETF expectations. In short, in the long run, ETF will definitely pass.

Before, Bitcoin made us wait for 7 years. I don’t know how long ETH will wait. I believe it won’t be too long. After all, BTC has taken the lead, and Ethereum spot ETFs in Hong Kong, Australia, Canada and other regions have passed. These are still of certain reference significance to US ETFs.