Why Isn't the Price Rising Despite Ethereum ETF Receiving Approval from the SEC?

Despite the US approval of the spot Ethereum ETF, the fact that prices did not rise made investors think.

The US Securities and Exchange Commission (SEC) approved spot Ethereum ETFs on May 24. But there was no significant rise in the Ethereum price.

Cryptocurrency analyst named @lex_node made a statement on the subject and explained why the rise did not occur. First of all, the analyst stated that this approval of the SEC covers only 19b-4 files, and noted that the S-1 file approvals have not arrived yet.

However, he emphasized that the approval came not by a vote by the SEC but by authorization by the Commerce Committee. At this point, there is a possibility that a commission member will object to the ETF approval in the next 10 days and shake the market.

Stating that the S-1 file approval and the final Ethereum ETF launch may take weeks or even months, the analyst noted that a serious increase may not be seen until this uncertainty is eliminated.