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✅️Yesterday’s market review
5/23:
🔥🔥🔥💪💪💪…Current: ETH reached the second pressure level of 3846.65 as expected at 23:00 yesterday morning, and then fluctuated in the sideways zone. 🔥🔥🔥
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✅️Today's Market Analysis
💪💪💪 Pay attention: Near the position of 3799.86, at this time, as long as the sideways market rebounds and breaks through the long and short positions, long orders are in sight, support level: 3744.97-3715.15 Near these two positions
The approval of Ethereum spot ETF is a decision made by the US SEC's trading and market department and its members
PANews May 24 news, according to The Block, the US Securities and Exchange Commission (SEC)'s trading and market department decided to approve a series of Ethereum spot ETFs in 19b-4 forms, rather than the agency's members. In the order on Form 19b-4 approving ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton, the last line reveals how the decision was made. The order reads, "This order is made by the Division of Trading and Markets on behalf of the Commission, pursuant to the Commission's authority." This means that it was the SEC's Division of Trading and Markets, not SEC Chairman Gary Gensler or the other four commissioners, who decided to approve the Ethereum spot ETF. Earlier this year, when the SEC approved the Bitcoin spot ETF, the commissioners voted - SEC Chairman Gary Gensler voted in favor along with Republican commissioners Hester Peirce and Mark Uyeda. Democratic commissioners Jaime Lizárraga and Carolina Crenshaw voted against. Many commissioners also made statements on the Bitcoin spot ETF. The SEC said on Thursday that they would not comment beyond the order. Bloomberg ETF analyst James Seyffart called it normal for the SEC to use authority to make decisions. Seyffart said in a post on X on Thursday: "It is the norm to make decisions through delegation. Things are usually handled this way.
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