"Possible Analysis of the Truth Behind the Reversal of Ethereum ETF"

The SEC's attitude towards Ethereum ETF has reversed 180 degrees recently. There are many different opinions on the real reason, but the most widely circulated one is ZZ direction, that is, Biden is extending an olive branch to the younger generation of crypto users for the 2024 election...

But is it really so?

Because from a realistic perspective, the impact of Ethereum ETF on its support rate is actually minimal, which may not be as good as a small change in Palestinian-Israeli policy, and Bitcoin ETF has been approved before, and all recent analyses are not optimistic about the approval of Ethereum ETF

So what exactly caused the SEC's attitude reversal? Let's analyze it from the perspective of interests.

First of all, it is clear that the SEC is not the decision maker of this reversal. Just like the "noncommittal" statement of SEC Chairman Gensler before and after the passage of Bitcoin ETF, from the perspective of regulators, cryptocurrency is a "chaotic and scam-filled place", especially after the collapse of FTX, this view is more accepted by mainstream public opinion.

So the real promoters behind it must have clear interests. Here we can compare Bitcoin ETF and Ethereum ETF. I wrote a long article before - "Bitcoin ETF, Wall Street and Liangshan Marsh".

https://x.com/FlagofMuskox/status/1752138593748103281

It analyzes in detail the evolution of the game relationship between the "Liangshan heroes" in the cryptocurrency circle and the mainstream financial circle of Wall Street behind the passage of Bitcoin ETF.

The old money represented by Wall Street once ignored Bitcoin. We can see this from J.P. Morgan Chase's ... Morgan, a top investment bank with deep background, can see that it is just that the decline of hegemony caused by the over-issuance of the US dollar has made the establishment notice the quiet budding of the new order, until they have to accept its existence and even plan to further "pacify" it.

The use of ETF is actually a clear signal that Wall Street or the international financial capital group is also preparing for the collapse of the US dollar credit, opening up the compliance channels controlled by itself in advance and becoming a new asset reservoir.

And at this time point, the anti-expected preparation for the Ethereum ETF is just like my previous analysis of the changes in the macro environment brought about by the Federal Reserve's monetary policy. It is very likely that the monetary flood after this interest rate cut will be unprecedented, so it is necessary to absorb the huge amount of liquidity by increasing the ETF.

https://x.com/FlagofMuskox/status/1791040570376544422

https://x.com/FlagofMuskox/status/1792138845536010389

If this is true, then we have reason to expect this round of record-breaking Bitcoin and Ethereum ATH prices, as well as the largest cryptocurrency bull market in history, which will have a far greater impact on the world's financial system and even on the production and life of human society than you and I can imagine

And if we take the time of Web2 If we bring in the line, 2022≈1997, then 2024≈1999. We may be on the eve of the unprecedented Web3 "cryptocurrency bubble burst"...

https://x.com/FlagofMuskox/status/1529056045280002049

Of course, the above is just an outsider's reasoning and analysis. The real reason may only be known by "insiders" themselves. However, the two major ETFs have brought huge liquidity by superimposing the expectation of global central bank rate cuts. We have reason to expect the super market in this round of cryptocurrency market
#BTC#ETH