- TECHNICAL ANALYSIS COMMENTARY $ETH
• In the early hours of May 23, the SEC approved the Ethereum ETF through its authorized agency, a decision that could have a significant impact on the cryptocurrency market. Unlike the Bitcoin ETF approval process in January, which required a vote by SEC commissioners, this approval of the Etheeum ETF did not undergo a public vote.
Bloomberg ETF analyst James Seyffart said this approval method means any SEC commissioner could request a review, although that would not change the decision.
Seyffart is pointing out an important issue regarding transparency and accountability in the SEC's decision-making process. When decisions are made without a public vote or detailed record of commissioners' views, this can lead to speculation and uncertainty about the motives behind those decisions. This lack of transparency could undermine public trust in the regulatory process and raise questions about the influence of political forces within the SEC. Clarity and openness in decision-making are critical to maintaining trust in regulatory agencies like the SEC.
• On May 23, after the ETF funds were approved, the price did not move very far, because the SEC had only approved the 19b-4 filing.
• And experts say that in the near future, if the S-1 application is approved, it is predicted that the price of ETH will soar even higher and further.
• This article is for informational purposes only and does not contain any investment advice.
