#ETH #SEC #approval

🚀SEC Delays Ether ETF Decision, Analysts Forecast Price Surge

The SEC has postponed its decision on an Ether ETF, while financial analysts forecast a significant Ether price increase.

SEC Postpones Decision on Ether ETF:

The U.S. Securities and Exchange Commission (SEC) has once again deferred its verdict on a proposed ether (ETH) exchange-traded fund (ETF) backed by Invesco and Galaxy Digital. As professional investors seek opportunities to invest directly in spot ether, they currently have limited options, with ether futures on the CME being a principal route. Such ETFs are highly anticipated as they would widen accessibility to Ethereum investments.

Market Analysts' Expectations:

Bloomberg Intelligence's expert, James Seyffart, anticipated these further extensions from the SEC. He underscored the significance of May 23 as the decisive day for spot Ethereum ETFs, especially with reference to VanEck's final deadline. In the meantime, prominent financial institutions like Standard Chartered Bank are predicting a bullish future for ether, projecting as much as a 70% growth in the price preceding the expected May approvals.

Ether's Performance in the Market:

In recent market activity, ETH has demonstrated its strength by outshining other major cryptocurrencies with a 2.2% increase in value over 24 hours. Analysts believe that ether’s performance will match or exceed that of bitcoin (BTC) in the run-up to the anticipated date of ETF approval.