What is the future trend of Ethereum? Although the ETF was unexpectedly approved, trading has not yet started. There is no final conclusion on whether ETH is a security, which determines that spot ETFs cannot be pledged. Even if they can be pledged, they will inevitably face a complex regulatory rule-making cycle.
However, the mechanism of ETH #POS has spawned a booming Defi ecosystem, Defi2.0, LRT, #restaking ... Behind all this, the cryptocurrency standard can obtain more benefits, and if the ETF cannot be pledged, it will naturally lose this part of the benefits.
Cathie Wood also said that the $ETH ETF application was approved because cryptocurrency is an election issue. Cryptocurrency has now become an issue in the US election, which is why the key documents of the proposed ETH exchange-traded fund #ETF were suddenly and unexpectedly approved.
So the real bull of ETH may still be a bit far away.
