Is ETH's ETF coming?
Let's talk about a few important facts about ETH's ETF:
The U.S. SEC asked Nasdaq and the Chicago Stock Exchange on Monday to update the 19b-4 filing documents for Ethereum spot ETFs. The 19b-4 filing document is a form used to inform the SEC of rule changes that allow funds to be traded on exchanges. It directly triggered a 20% surge in ETH in a single day.
This suggests that the SEC may approve these applications before the key deadline of Thursday, May 23, but this does not mean that the ETF will be approved. Before being approved, potential issuers also need to obtain S-1 application approval before the product begins trading. A person familiar with the matter said that the SEC may take an indefinite time to approve the S-1 document because it has no deadline.
It is currently known that seven entities are applying for Ethereum spot ETFs, namely: BlackRock, Fidelity, Invesco & Galaxy, Grayscale, VanEck, 21Shares & Ark and Hashdex. Among them, VanEck is the first institution to apply for Ethereum spot ETF, and the SEC will make a final decision on its application before May 23. The result of this application will directly affect the resolution results of other applications.
● Then the approval result: Failed
It will inevitably lead to a sharp drop in the Ethereum system, which will in turn trigger a decline in the market.
● Approval result: Passed
Looking carefully at the table, Grayscale's ETH spot ETF application is also included. If the SEC passes, it is likely that all ETH spot ETFs will be approved. Grayscale holds about 3 million ETH, worth $11 billion, and the current premium is -13.4%. Did you find that you have seen this script? Yes, this part of ETH that has been locked for a long time is likely to be sold in a hurry to cash out like the BTC ETF in January. On January 8, Bitcoin rose 7% because of expectations. On January 11, Bitcoin ETF was officially passed, but due to Grayscale's continuous selling for many days, Bitcoin fell back from 48,000 to around 40,000.
In summary, I think whether the Ethereum ETF is passed on the 23rd will lead to a decline in ETH. It's just that the duration and intensity are different. Before the announcement on the 23rd will be the best time for hype and high-level selling!
So, how do you think the script will go?
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