The cryptocurrency market has experienced a significant decline, with more than $100 billion lost in market valuations ahead of the US Securities and Exchange Commission (SEC)'s expected decision on VanEck's spot Ether exchange-traded fund (ETF) application.
These pre-decision fluctuations mirror the fluctuations previously seen in Bitcoin, causing significant price changes in the market.
Bloomberg Senior ETF analyst Eric Balchunas predicts the SEC's decision will be announced around the same time it approved spot Bitcoin ETFs earlier this year.
