The post "SEC Expected to Approve Ethereum ETFs This Summer, Chair Gensler Tells Senate Subcommittee" first appeared on 36crypto.com News.
In a recent development, the US Securities and Exchange Commission Chair, Gary Gensler, appeared before the Senate Appropriations Subcommittee on Financial Services on Thursday and cleared the air regarding the agency's timeline to approve spot Ethereum ETFs for Senator Bill Hagerty, a Republican from Tennessee. Gensler mentioned that the SEC has what it believes will approve the S-1 forms for such ETFs next summer.
Ethereum ETFs Set to Launch Following SEC Greenlight
The SEC has started making efforts toward the approval of Ethereum ETFs, especially in the recent past. It added that the agency suddenly approved listing and trading eight Ether ETFs through the rule change 19b-4 forms. The SEC asked all prospective issuers to file new S-1 forms at the end of May. ETF analyst restricted his comments to his noted progress, which includes the following: "I will be interested in seeing changes in the next batch of amended S-1s, and there can't be that much work left to do."
Several analysts in the industry speculated on Ethereum ETFs which is why Popular Bloomberg analyst James Seyffart said that Ethereum ETFs would go live this summer. "The month of 'July' was to be the month of pure speculation, but I had much more conviction in stating that ETH ETFs will launch sometime during summer, which was kind of like a given," Seyffart remarked in a post on X.
There is also positive action in the #BitcoinETF market, which is expected to enjoy a similar boost from Ethereum ETFs. With this background, Bitcoin ETFs recently experienced $100 million in inflows, with Fidelity's wise origin Bitcoin fund (FBTC) dominating the market. This increase in attention emphasizes the necessity for institutional and new retail investors to invest in cryptocurrency vehicles.
This indicates that the SEC's approval of #EthereumETFs will be a significant milestone in cryptocurrency investment. The prospects for Ethereum ETFs appear particularly promising, given recent events such as regulation change approval and the anticipated summer deployment. Gaining insights, the financial community awaits further developments and the SEC's expected steps. Still, Bitcoin ETFs are seeing large inflows, indicating that there is still a considerable interest in crypto-assets. The future developments we anticipate in the Ethereum ETF market will transform cryptocurrency investment in the following months.

The SEC approves Form 19b-4 for eight Ethereum ETF issuers, opening the door for institutional investment, but S-1 registration statements are still pending.

Read more on: https://thecryptobasic.com/2024/05/24/sec-approves-form-19b-4-for-eight-ethereum-etf-issuers/
#EthereumETFs #Crypto #CryptoNewsDaddy #CryptoNews🚀🔥"

Shiba Inu (SHIB) price chart indicates bullish signs for a potential 50%-60% spike, while Arkham (ARKM), an AI-centric project, also shows bullish trends. Altcoins are signaling bullish movements amid Bitcoin’s sideways action.
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As the crypto market experiences a sideways bullish rally, many altcoins are showing promising patterns that could lead to significant price increases. Analysts have various opinions on which altcoins might surge first, but one prediction stands out for Shiba Inu (SHIB).

Bullish Patterns Point to Potential Surges for SHIB and ARKM
A prominent trader has highlighted the price action of Shiba Inu (SHIB), noting a bullish pennant formation on the daily timeframe. This pattern suggests a possible significant upward movement for the token, often referred to as a meme coin.

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According to the analyst, SHIB could see a price increase of 50%-60% if this pattern plays out as expected.
https://x.com/breakout_expert/status/1792053886054015274?ref_src=twsrc%5Etfw
In addition to SHIB, the analyst also focuses on Arkham (ARKM), a crypto token known for its use of AI in analyzing blockchain and on-chain data. Arkham offers both an analytics platform and an intel exchange, making it a noteworthy project in the crypto space. The analyst’s observations on ARKM indicate potential bullish movements for this token as well.

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https://x.com/breakout_expert/status/1792505577299743076?ref_src=twsrc%5Etfw
Analyst Predicts Bullish Surge for ARKM Amid Steady Price Rise
According to the chart shared by the analyst, Arkham (ARKM) has been experiencing a steady price increase over the past few months. Observing this consistent rise, the analyst provides his insights on the future movement of this AI-based asset.

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He describes the ARKM price chart as truly impressive, noting that the asset is once again responding to a rising trend. The analyst predicts that if this upward movement continues, ARKM could reach $3.25. Currently, ARKM is priced at $2.45 according to CoinMarketCap. It will be intriguing to see how high the price can climb during this bull cycle.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#SHIB #ShibaInu #Memecoins #EthereumETFs #ETHETFS $SHIB $BTC $ETH