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This campaign may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the campaign period eriod. Ensure the "Also Repost" box is checked when replying, or your comment won't count as a valid entry.To ensure fairness, entries closed at 2025-01-26 20:00 UTC. The campaign's outcome will be based on the BTCUSDT price at 2025-01-26 23:59:59 UTC.If users made multiple comments, only the first comment will be considered as an eligible entry. Deleted comments are not eligible for rewards.In case of same predictions by multiple users, the earliest comment will be prioritized.Winners will be announced in the comments section of this post within 14 working days after the campaign ends and notified via a push notification under Creator Center > Square Assistant. Rewards will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelinesor Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this post and the original English version, the English version of this post shall prevail.Additional promotion terms and conditions can be accessed here.
Drop your prediction for this week's $BTC closing price in the comments of this post 👇
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This campaign may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the campaign period eriod. Ensure the "Also Repost" box is checked when replying, or your comment won't count as a valid entry.To ensure fairness, entries closed at 2025-01-26 20:00 UTC. The campaign's outcome will be based on the BTCUSDT price at 2025-01-26 23:59:59 UTC.If users made multiple comments, only the first comment will be considered as an eligible entry. Deleted comments are not eligible for rewards.In case of same predictions by multiple users, the earliest comment will be prioritized.Winners will be announced in the comments section of this post within 14 working days after the campaign ends and notified via a push notification under Creator Center > Square Assistant. Rewards will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelinesor Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this post and the original English version, the English version of this post shall prevail.Additional promotion terms and conditions can be accessed here.
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Cointelegraph
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Ether ETF Approved So Why Aren’t We Rich Yet?
There could be two main reasons why Ether (ETH) has barely moved in price despite the landmark approval of spot Ether exchange-traded funds (ETF) in the United States.
On May 23, the Securities and Exchange Commission approved eight spot Ether ETFs to be listed on their respective exchanges. Ether fell 3.4% just before the news, recovering by around 5% shortly after, and is currently trading at $3,806.
Crypto commentator Zach Rynes argues that the lack of movement reflects the notion that “everyone who wanted to buy the approval already did.”
Ether had already surged 29% over the past week after reports suggested the SEC may have pivoted its stance toward ETF approvals.
Rynes and many others also note that while the ETFs have been approved, they still haven’t been cleared for launch, as that will also require an approved S-1 filing — a comprehensive document including details on the firm’s financials and risk profile, as well as the securities they intend to offer.
VanEck has just sent its amended S-1 filing to the SEC and analysts have been saying could take weeks to months for the re S-1 approvals.
Source: Gabriel Shapir0
Rynes believes the next major price force for Ether will be ETF inflows once they begin trading.
“ETFs haven’t actually launched yet, so net new capital inflow is still to come,” Rynes wrote, with crypto research firm Second Mountain echoing a similar sentiment.
“Expect a massive capital inflow in the first week, potentially reaching billions,” Second Mountain stated in a May 23 X post just before the SEC approved the ETFs.
However, some say it might not immediately lead to an upward trend.
Bitcoin’s price dropped 15% after spot Bitcoin ETFs were approved for trading on Jan. 10. According to CoinMarketCap data, it took 30 days for the price to spike 30% to $51,870.
Related: Ether surges 18% amid new hope for spot Ether ETF approvals
There are also lingering concerns that Grayscale’s announcement of its plans to convert its Grayscale Ethereum Trust (ETHE) into a spot Ether ETF could result in significant outflows — similar to Grayscale Bitcoin Trust (GBTC) after the approval of spot Bitcoin ETFs in January.
“Grayscale also re-filed the ETHE registration they'd withdrawn. Remember GBTC outflows? Now it's $11B+ ETH that’s been trapped for 7 years,” pseudonymous crypto trader Rho Rider warned in a May 23 X post.
Since spot Bitcoin ETFs started trading on Jan. 11, GBTC has shed a total of $17.6 billion in assets, per Farside data.
Relax, Ether is undervalued, say maxis
“ETH is stupidly undervalued,” added independent Ethereum educator Sassal, arguing that the market has had only three days to “price in the ETF approval.”
Ether is up 17.51% over the past 30 days. Source: CoinMarketCap
Meanwhile, Bitcoin (BTC) stumbled slightly by 1.2% to $67,362 following the announcement but has since recovered to $67,706 at the time of writing.
Around the same time, PEPE (PEPE) hit another new all-time high, reaching $0.00001531, a 5% increase within the hour following the approval news.
Magazine: The $2,500 doco about FTX collapse on Amazon Prime… with help from mom
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
On May 23, the Securities and Exchange Commission approved eight spot Ether ETFs to be listed on their respective exchanges. Ether fell 3.4% just before the news, recovering by around 5% shortly after, and is currently trading at $3,806.
Crypto commentator Zach Rynes argues that the lack of movement reflects the notion that “everyone who wanted to buy the approval already did.”
Ether had already surged 29% over the past week after reports suggested the SEC may have pivoted its stance toward ETF approvals.
Rynes and many others also note that while the ETFs have been approved, they still haven’t been cleared for launch, as that will also require an approved S-1 filing — a comprehensive document including details on the firm’s financials and risk profile, as well as the securities they intend to offer.
VanEck has just sent its amended S-1 filing to the SEC and analysts have been saying could take weeks to months for the re S-1 approvals.
Source: Gabriel Shapir0
Rynes believes the next major price force for Ether will be ETF inflows once they begin trading.
“ETFs haven’t actually launched yet, so net new capital inflow is still to come,” Rynes wrote, with crypto research firm Second Mountain echoing a similar sentiment.
“Expect a massive capital inflow in the first week, potentially reaching billions,” Second Mountain stated in a May 23 X post just before the SEC approved the ETFs.
However, some say it might not immediately lead to an upward trend.
Bitcoin’s price dropped 15% after spot Bitcoin ETFs were approved for trading on Jan. 10. According to CoinMarketCap data, it took 30 days for the price to spike 30% to $51,870.
Related: Ether surges 18% amid new hope for spot Ether ETF approvals
There are also lingering concerns that Grayscale’s announcement of its plans to convert its Grayscale Ethereum Trust (ETHE) into a spot Ether ETF could result in significant outflows — similar to Grayscale Bitcoin Trust (GBTC) after the approval of spot Bitcoin ETFs in January.
“Grayscale also re-filed the ETHE registration they'd withdrawn. Remember GBTC outflows? Now it's $11B+ ETH that’s been trapped for 7 years,” pseudonymous crypto trader Rho Rider warned in a May 23 X post.
Since spot Bitcoin ETFs started trading on Jan. 11, GBTC has shed a total of $17.6 billion in assets, per Farside data.
Relax, Ether is undervalued, say maxis
“ETH is stupidly undervalued,” added independent Ethereum educator Sassal, arguing that the market has had only three days to “price in the ETF approval.”
Ether is up 17.51% over the past 30 days. Source: CoinMarketCap
Meanwhile, Bitcoin (BTC) stumbled slightly by 1.2% to $67,362 following the announcement but has since recovered to $67,706 at the time of writing.
Around the same time, PEPE (PEPE) hit another new all-time high, reaching $0.00001531, a 5% increase within the hour following the approval news.
Magazine: The $2,500 doco about FTX collapse on Amazon Prime… with help from mom
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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