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the patient hodler
@the_patient_hodler
In this game since 2015. Learned a couple of lessons. One of them is holding established cryptos. --- profile picture taken from unsplash. Artist is Matheo JBT
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$RAY flexes muscles 💪
Review how RAY developed within the last two weeks! As we witness a current uptrend for the overall crypto market (within the timeframe since approximately end of September), RAY specifically stands out with strong gains.
This should not go unnoted. As many coins which were the front runners of the beginning bullrun in 2020 were the ones gaining the most all over all. I see similarities to how $SOL or $FTM made strong gains early into the last #AltCoinSeason
A correction within the next days seems plausible reviewing the development of RSI indicators. Maybe it's your chance to open a position in this token.
I have about 3% of my portfolio in RAY. Do your own research! This is not an investment advice.
Review how RAY developed within the last two weeks! As we witness a current uptrend for the overall crypto market (within the timeframe since approximately end of September), RAY specifically stands out with strong gains.
This should not go unnoted. As many coins which were the front runners of the beginning bullrun in 2020 were the ones gaining the most all over all. I see similarities to how $SOL or $FTM made strong gains early into the last #AltCoinSeason
A correction within the next days seems plausible reviewing the development of RSI indicators. Maybe it's your chance to open a position in this token.
I have about 3% of my portfolio in RAY. Do your own research! This is not an investment advice.
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💥 $RAY is remarkably strong right now. It has the biggest momentum of all of #Top100Crypto lately. The gains since the last time I posted about it are nearly 50%.
Those investors who got in when the lows of 2022 were in - these were about $0,15$ at the time - are meanwhile on such a terrific profit if they held through all the hassle since then.
What this shows is that picking the right #altcoin during crypto winter, investing a plausible and meaningful amount of your funds, and then holding onto it for as long as the #AltCoinSeason unfolds can give life changing gains. The challenge here is clearly to find these gems early enough and to recognize the unique properties which make that project so relevant.
Whoever is invested in this token, I am congratulating to you! I wish us all a nice ride ahead 🚀🌕
Those investors who got in when the lows of 2022 were in - these were about $0,15$ at the time - are meanwhile on such a terrific profit if they held through all the hassle since then.
What this shows is that picking the right #altcoin during crypto winter, investing a plausible and meaningful amount of your funds, and then holding onto it for as long as the #AltCoinSeason unfolds can give life changing gains. The challenge here is clearly to find these gems early enough and to recognize the unique properties which make that project so relevant.
Whoever is invested in this token, I am congratulating to you! I wish us all a nice ride ahead 🚀🌕
🐧 Will we see the start of a correction for most cryptos in the next 24 hours?
Yes
No
Yes, but later
22 сағат қалды
$100000 is the target 🎯
$BTC is approaching the biggest price milestone in years. Honestly I anticipated this already in 2021 and was surprised it did not reach it back then. This time it will, no matter what 🤑
I assume we will see this price reached by Friday of this week. And psychology might create enough sell pressure to prevent the price going higher on its first attempt. Additionally As there lie about 2 weeks of big gains behind us, chances aren't that small well see an intermediate correction, a broader correction that will not only affect BTC but most of the market.
Think about selling a fraction of the coins you are in bigger gains. For example Solana or RAY. Wait until the correction heats up, and put the money back into the game. Because the game isn't over at $100k. It's not even halftime.
#BTC100Ksoon $RAY
$BTC is approaching the biggest price milestone in years. Honestly I anticipated this already in 2021 and was surprised it did not reach it back then. This time it will, no matter what 🤑
I assume we will see this price reached by Friday of this week. And psychology might create enough sell pressure to prevent the price going higher on its first attempt. Additionally As there lie about 2 weeks of big gains behind us, chances aren't that small well see an intermediate correction, a broader correction that will not only affect BTC but most of the market.
Think about selling a fraction of the coins you are in bigger gains. For example Solana or RAY. Wait until the correction heats up, and put the money back into the game. Because the game isn't over at $100k. It's not even halftime.
#BTC100Ksoon $RAY
🏧 Update on the current state of Litecoin
Please comment under this post if you disagree with any statement made by me.
My assessment in my earlier post is still valid. $LTC has properties that sets it apart from many altcoins that were released during the last years. It's distribution is much fairer compared to most #alts where the founders hold huge percentage of the supply. Thus one can assume that broad market corrections in the coming months wont affect #LTC✅ as much as new altcoins or memecoins. For memecoins I expect heavy sell pressure from whales cashing out. This could help Litecoin propell an X10 towards the peak of this cycle. And I also expect LTC wont crash as hard as many other altcoins.
If you are interested in more reasons I think Litecoin will do very well in the future, see my earlier post that I linked to.
Disclaimer: This is no investment advice.
Please comment under this post if you disagree with any statement made by me.
My assessment in my earlier post is still valid. $LTC has properties that sets it apart from many altcoins that were released during the last years. It's distribution is much fairer compared to most #alts where the founders hold huge percentage of the supply. Thus one can assume that broad market corrections in the coming months wont affect #LTC✅ as much as new altcoins or memecoins. For memecoins I expect heavy sell pressure from whales cashing out. This could help Litecoin propell an X10 towards the peak of this cycle. And I also expect LTC wont crash as hard as many other altcoins.
If you are interested in more reasons I think Litecoin will do very well in the future, see my earlier post that I linked to.
Disclaimer: This is no investment advice.
🆙️$LTC is on the move.
It's been a while that the increase within 24 hours was greater than 5%. But today that is the case. This coincides with the price breaking through an upper resistance on the 1D chart.
#Altcoinseason2024 will certainly be really good for the value development of LTC. Here are my 2 main reasons:
[1] The price is pretty much at the same level as it has been for the majority of the time in 2023 and 2024. You will most certainly not see a big correction in 2024 because noone who bought after 2021 is in big gains. This leaves a lot of freedom to grow naturally.
[2] LTC is mined like $BTC and has a much better distribution than many new cryptocurrencies that emerged during the last 3 years, where creators and devs often still posses more than 50% of the whole supply. This distribution of LTC which is much fairer means that no big bag holders can put sustained sell pressure on it.
It's been a while that the increase within 24 hours was greater than 5%. But today that is the case. This coincides with the price breaking through an upper resistance on the 1D chart.
#Altcoinseason2024 will certainly be really good for the value development of LTC. Here are my 2 main reasons:
[1] The price is pretty much at the same level as it has been for the majority of the time in 2023 and 2024. You will most certainly not see a big correction in 2024 because noone who bought after 2021 is in big gains. This leaves a lot of freedom to grow naturally.
[2] LTC is mined like $BTC and has a much better distribution than many new cryptocurrencies that emerged during the last 3 years, where creators and devs often still posses more than 50% of the whole supply. This distribution of LTC which is much fairer means that no big bag holders can put sustained sell pressure on it.
#Ada is on fire 🔥 -- What are your thoughts? -- after consolidating for some days $ADA 's momentum has stated to push its price further up from already great gains since Nov 4th.
Under current positive conditions surrounding crypto projects made in the US, ADA might be one of the big gainers of #Altcoinseason2024 and #Altcoinseason2025 😏
I have a small position in it and I will try to make a handful of successful swing trades on it.
Update:
Woah, nice leg up yesterday. I suppose there will be another one in case $BTC marches towards $100k in the coming week.
Under current positive conditions surrounding crypto projects made in the US, ADA might be one of the big gainers of #Altcoinseason2024 and #Altcoinseason2025 😏
I have a small position in it and I will try to make a handful of successful swing trades on it.
Update:
Woah, nice leg up yesterday. I suppose there will be another one in case $BTC marches towards $100k in the coming week.
🤕 $WLD looks weak and risky again. Updated assessment of its situation.
I've written about the risks that come with investing in worldcoin already in June and July. Now, after we saw the #Altcoinseason2024 wasn't really happening yet. Just a little runup from the beginning of October which allowed some tokens to X2 or slightly better. Worldcoin was also able to gain X2 from the local lows in August and September. So far so good for short term traders. Medium and long term things look different. Rather Bleak. The upward trendline of the last weeks is clearly broken and it's definitely possible hat another wave of heavy selling occurs in the coming weeks, driving price downwards significantly.
So be very careful about this specific project. There are red lights flashing again.
Please make informed decisions by yourself. This is not investment advice.
I've written about the risks that come with investing in worldcoin already in June and July. Now, after we saw the #Altcoinseason2024 wasn't really happening yet. Just a little runup from the beginning of October which allowed some tokens to X2 or slightly better. Worldcoin was also able to gain X2 from the local lows in August and September. So far so good for short term traders. Medium and long term things look different. Rather Bleak. The upward trendline of the last weeks is clearly broken and it's definitely possible hat another wave of heavy selling occurs in the coming weeks, driving price downwards significantly.
So be very careful about this specific project. There are red lights flashing again.
Please make informed decisions by yourself. This is not investment advice.
Please keep your politics discussion to appropriate platforms. Binance square is mainly for topics around #trading #crypto.
It's clear that political developments are of interest for trading as they can influence how global markets behave. I don't argue against that.
But it's also clear that the amount of political posts here on square has reached a level that feels alien to the actual intention of the platform. And often seems to be pure attention farming.
I propose we should appreciate the fact that $BTC is able to hold the price range it reached now way more than what I can see in the posts right now. I know things aren't that great for altcoin investors right now (of which I am also one). But keep in mind that all #AltCoinSeason were ignited by BTC making new heights. And that is so close 🤠
So let's get back to business and discuss crypto! ✌️
It's clear that political developments are of interest for trading as they can influence how global markets behave. I don't argue against that.
But it's also clear that the amount of political posts here on square has reached a level that feels alien to the actual intention of the platform. And often seems to be pure attention farming.
I propose we should appreciate the fact that $BTC is able to hold the price range it reached now way more than what I can see in the posts right now. I know things aren't that great for altcoin investors right now (of which I am also one). But keep in mind that all #AltCoinSeason were ignited by BTC making new heights. And that is so close 🤠
So let's get back to business and discuss crypto! ✌️
🤑 $RAY had phenomenal two weeks in a row.
The price of RAY found a steady upward direction which starts to look parabolic. Very important within a longer timeframe is that the price broke the March high (by nearly 10%) and the weekly candle closed above this former high.
I see a chance that RAY will shine very bright during the next #AltCoinSeason - It seems a little overbought right now and I think a correction in the coming weeks could retest $2,77 (which is the last high before the current rise).
Despite a luring correction the upward trend is very tangible and given that DEX usage, especially on $SOL #Solana_Blockchain is thriving like never before, essentials are great and give investors and clients enough reasons to get on the boat.
#BinanceBlockchainWeek
Do your own research. This is not an investment advice.
The price of RAY found a steady upward direction which starts to look parabolic. Very important within a longer timeframe is that the price broke the March high (by nearly 10%) and the weekly candle closed above this former high.
I see a chance that RAY will shine very bright during the next #AltCoinSeason - It seems a little overbought right now and I think a correction in the coming weeks could retest $2,77 (which is the last high before the current rise).
Despite a luring correction the upward trend is very tangible and given that DEX usage, especially on $SOL #Solana_Blockchain is thriving like never before, essentials are great and give investors and clients enough reasons to get on the boat.
#BinanceBlockchainWeek
Do your own research. This is not an investment advice.
👋 Hey, $RAY 🗯
In continuation of my post from 2 days ago, I would like to highlight that RAY pursues its upwards trend. Especially of interest for me is how it behaved during the relatively big price changes of $BTC . RAY's upward movement was stronger compared to the downward price movement while price of BTC decreased. These are often signs of market circustances where the buying side is in control of what happens.
Compared to the whole altcoin market, RAY developed better than average since the August lows. Keep 👀 this token.
In the absence of general market turmoils, it would make a lot of sense for RAY to go above 2,85$ soon. Do your own research. This is not an investment advice.
In continuation of my post from 2 days ago, I would like to highlight that RAY pursues its upwards trend. Especially of interest for me is how it behaved during the relatively big price changes of $BTC . RAY's upward movement was stronger compared to the downward price movement while price of BTC decreased. These are often signs of market circustances where the buying side is in control of what happens.
Compared to the whole altcoin market, RAY developed better than average since the August lows. Keep 👀 this token.
In the absence of general market turmoils, it would make a lot of sense for RAY to go above 2,85$ soon. Do your own research. This is not an investment advice.
✌️🆙️ I bought the dip.
I am aware that we can see more downtrend in the coming days. But that's always the case. One has the be prepared for all scenarios.
I had a trade setup for altcoins that was dependent of a BTC keylevel (one I deem is a key level, in my setup).
The plan was to DCA more alts when BTC is near 62k$. I sticked to the plan despite current buzz around looming war and another selling government. because I am CONFIDENT that my strategy will play out long term.
Leave a like if you bought the dip aswell.🤑
#buythedip 💎👏
The smallest amount I've invested was in $ENA . The biggest in $ETH
I am aware that we can see more downtrend in the coming days. But that's always the case. One has the be prepared for all scenarios.
I had a trade setup for altcoins that was dependent of a BTC keylevel (one I deem is a key level, in my setup).
The plan was to DCA more alts when BTC is near 62k$. I sticked to the plan despite current buzz around looming war and another selling government. because I am CONFIDENT that my strategy will play out long term.
Leave a like if you bought the dip aswell.🤑
#buythedip 💎👏
The smallest amount I've invested was in $ENA . The biggest in $ETH
🆙️$LTC is on the move.
It's been a while that the increase within 24 hours was greater than 5%. But today that is the case. This coincides with the price breaking through an upper resistance on the 1D chart.
#Altcoinseason2024 will certainly be really good for the value development of LTC. Here are my 2 main reasons:
[1] The price is pretty much at the same level as it has been for the majority of the time in 2023 and 2024. You will most certainly not see a big correction in 2024 because noone who bought after 2021 is in big gains. This leaves a lot of freedom to grow naturally.
[2] LTC is mined like $BTC and has a much better distribution than many new cryptocurrencies that emerged during the last 3 years, where creators and devs often still posses more than 50% of the whole supply. This distribution of LTC which is much fairer means that no big bag holders can put sustained sell pressure on it.
It's been a while that the increase within 24 hours was greater than 5%. But today that is the case. This coincides with the price breaking through an upper resistance on the 1D chart.
#Altcoinseason2024 will certainly be really good for the value development of LTC. Here are my 2 main reasons:
[1] The price is pretty much at the same level as it has been for the majority of the time in 2023 and 2024. You will most certainly not see a big correction in 2024 because noone who bought after 2021 is in big gains. This leaves a lot of freedom to grow naturally.
[2] LTC is mined like $BTC and has a much better distribution than many new cryptocurrencies that emerged during the last 3 years, where creators and devs often still posses more than 50% of the whole supply. This distribution of LTC which is much fairer means that no big bag holders can put sustained sell pressure on it.
🧯$WLD : Continued signs of weakness !
Although Worldcoin's price nearly doubled from the bottom of early July, it still shows the main direction of its price is downward.
Whereas founders of the token lately decided that they will alter the unlock schedule of 80% of the token supply. From an initial plan having a 3 year period, it is extended to 5 years. But that's not helping too much.
I'd say the biggest selling pressure is coming from millions of already registered WorldID users who don't save their payouts. Instead, they are selling right away to buy essentials.
Price reached $3.23 on July 17. But today, only 6 days later, it fell again to the $2.20 levels. A decrease of 32%. That is very weak!
Be careful when investing in this. I wouldn't be surprised to see it going as low as $1 in the near future, simply because the selling pressure still seems so high and constant.
The overall market sentiment turned a little bearish after the big gains of last week. Stay cautious ✌️
Check my earlier post about worldcoin that I made a reference to. I was sharing some additional thoughts back then.
#ETH_ETFs_Trading_Today
#MtGoxJulyRepayments
Although Worldcoin's price nearly doubled from the bottom of early July, it still shows the main direction of its price is downward.
Whereas founders of the token lately decided that they will alter the unlock schedule of 80% of the token supply. From an initial plan having a 3 year period, it is extended to 5 years. But that's not helping too much.
I'd say the biggest selling pressure is coming from millions of already registered WorldID users who don't save their payouts. Instead, they are selling right away to buy essentials.
Price reached $3.23 on July 17. But today, only 6 days later, it fell again to the $2.20 levels. A decrease of 32%. That is very weak!
Be careful when investing in this. I wouldn't be surprised to see it going as low as $1 in the near future, simply because the selling pressure still seems so high and constant.
The overall market sentiment turned a little bearish after the big gains of last week. Stay cautious ✌️
Check my earlier post about worldcoin that I made a reference to. I was sharing some additional thoughts back then.
#ETH_ETFs_Trading_Today
#MtGoxJulyRepayments
🧯$WLD : continued precaution necessary !
If you consider investing in $WLD, I would advice to think twice. Have you considered how many tokens are not yet released? The biggest proportion of all tokens will still be unlocked.
Another weak sign is by how little $WLD rose since the market rebound on the weekend. Compare this with the rest of the market. Most coins did way better.
Stay strong. Hold good coins! 💎
#PatienceWins
If you consider investing in $WLD, I would advice to think twice. Have you considered how many tokens are not yet released? The biggest proportion of all tokens will still be unlocked.
Another weak sign is by how little $WLD rose since the market rebound on the weekend. Compare this with the rest of the market. Most coins did way better.
Stay strong. Hold good coins! 💎
#PatienceWins
🔥 $BANANA has taken a rare decision and defined that the maximum supply of their token is just 10 million. This is only half as many as bitcoin.
Consequently it is trading at a comparitively high value of $70 at this moment.
I find the name pretty entertaining and I guess I am not alone with this. I assume this gives it some meme potential as well, which cannot hurt this crypto season.
I haven't tested their product features yet. At least the description of their use case sounds plausible and targets to close a gap in the market.
Guys have fun hodling this one. I am optimistic it will be a fun ride.
#BinanceHODLerBANANA
Consequently it is trading at a comparitively high value of $70 at this moment.
I find the name pretty entertaining and I guess I am not alone with this. I assume this gives it some meme potential as well, which cannot hurt this crypto season.
I haven't tested their product features yet. At least the description of their use case sounds plausible and targets to close a gap in the market.
Guys have fun hodling this one. I am optimistic it will be a fun ride.
#BinanceHODLerBANANA
🔥 Many seem to overlook this. They just fail to realize what a strong technical foundation #LTC✅ has.
It's a challenge in #patience -- not a sprint.
If you are one of the kind who think investing in bitcoin is not lucrative anymore because it will not grow fast enough for your gain targets, then look into $LTC . It's nearly as scarce as $BTC , but it's also just $70 right now. Last hype cycle it reached a bit above $400.
A play of words: aLTCoin rally contains LTC 😉
#Altcoinseason2024 🛫
It's a challenge in #patience -- not a sprint.
If you are one of the kind who think investing in bitcoin is not lucrative anymore because it will not grow fast enough for your gain targets, then look into $LTC . It's nearly as scarce as $BTC , but it's also just $70 right now. Last hype cycle it reached a bit above $400.
A play of words: aLTCoin rally contains LTC 😉
#Altcoinseason2024 🛫
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Litecoin
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Litecoin has never been down in its 12+ year history!
The longest running crypto with 💯% uptime!! $LTC
The longest running crypto with 💯% uptime!! $LTC
--- 💯💯💯💯 ---
🛩 last call for passengers of Flight LTC400 to ABrightFuture 😁
#LTC/BTC $LTC #BinanceTournament
I continue on my last post where I gave advice for you to look into litecoin (LTC). Its fundamentals are very strong. Additionally to what I wrote about in my last post, I want to emphasize that there are no large bag holders. Litecoin has been fairly distributed by mining - There was no presale. The biggest share holder, the founder of litecoin, has sold his complete stash in 2017 to make the litecoin project more independent.
I expect litecoin to have a spontaneous increase like a spring shooting up after it was suppressed. Get on board before this happens. 🛫
image credits:
Ashim D'Silva, on unsplash
🛩 last call for passengers of Flight LTC400 to ABrightFuture 😁
#LTC/BTC $LTC #BinanceTournament
I continue on my last post where I gave advice for you to look into litecoin (LTC). Its fundamentals are very strong. Additionally to what I wrote about in my last post, I want to emphasize that there are no large bag holders. Litecoin has been fairly distributed by mining - There was no presale. The biggest share holder, the founder of litecoin, has sold his complete stash in 2017 to make the litecoin project more independent.
I expect litecoin to have a spontaneous increase like a spring shooting up after it was suppressed. Get on board before this happens. 🛫
image credits:
Ashim D'Silva, on unsplash
🧠 Totally undervalued right now. $LTC
Through this whole early crypto hype cycle I notice that Litecoin #LTC✅ is very underappreciated. I think many new investors haven't understood what it is in camparison to $BTC .
Friends, if you haven't come around litecoin yet and don't know its properties, do research. For me it's like the little brother of bitcoin, brave enough to test new features before bitcoin gets them.
And investment-wise, currently is a very good entry point. I assume it will reach about $400 in the upcoming hype cycle.
There is also a chance that Litecoin might get an ETF like bitcoin and ethereum. In that case I would see $1000 a likely price target into 2025.
Are you convinced that litecoin has a bright future too? Do you have doubts about it? Leave a comment and we can discuss! Looking forward to it 😃
#Altcoinseason2024
Through this whole early crypto hype cycle I notice that Litecoin #LTC✅ is very underappreciated. I think many new investors haven't understood what it is in camparison to $BTC .
Friends, if you haven't come around litecoin yet and don't know its properties, do research. For me it's like the little brother of bitcoin, brave enough to test new features before bitcoin gets them.
And investment-wise, currently is a very good entry point. I assume it will reach about $400 in the upcoming hype cycle.
There is also a chance that Litecoin might get an ETF like bitcoin and ethereum. In that case I would see $1000 a likely price target into 2025.
Are you convinced that litecoin has a bright future too? Do you have doubts about it? Leave a comment and we can discuss! Looking forward to it 😃
#Altcoinseason2024
🏄♀️ When will the next bullish phase begin?
Currently I read a lot of FUD here. And I feel we might be in the middle of summertime boredom.
But: The ETH ETF is about to be real in July - For me the most bullish factor this month.
That is why I am quite convinced that a new rally is about to begin in the coming weeks. What do you think when this will be?
⏰️
🚀
#BTC_Bounce_Back_to_57k #ETH_ETFs_Approval_Predictions
Currently I read a lot of FUD here. And I feel we might be in the middle of summertime boredom.
But: The ETH ETF is about to be real in July - For me the most bullish factor this month.
That is why I am quite convinced that a new rally is about to begin in the coming weeks. What do you think when this will be?
⏰️
🚀
#BTC_Bounce_Back_to_57k #ETH_ETFs_Approval_Predictions
July
28%
August
39%
September
33%
49 дауыс • Дауыс беру жабық
#ETFEthereum It's near 😃
I am optimistic we will see a positive influence of it.
I know a lot of you lost faith that it's meaningful to invest in altcoins - and to some extend also not meaningful to invest in ETH. But the soon launched ETFs are very positive long-term imho. There are big funds which were not yet delegated towards crypto. A huge liquidity source will then be added and I am sure #Altcoinseason2024 can begin afterwards.
Hold strong friends, there is lots of light on the horizon 🌄
I am optimistic we will see a positive influence of it.
I know a lot of you lost faith that it's meaningful to invest in altcoins - and to some extend also not meaningful to invest in ETH. But the soon launched ETFs are very positive long-term imho. There are big funds which were not yet delegated towards crypto. A huge liquidity source will then be added and I am sure #Altcoinseason2024 can begin afterwards.
Hold strong friends, there is lots of light on the horizon 🌄
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CoinMarketCap
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Spot Ethereum ETF Nears Launch As Issuers Submit Amended Filings
Spot Ethereum ETF Nears Launch As Issuers Submit Amended Filings
Several asset managers have submitted amended filings to the SEC for the spot Ethereum ETFs. VanEck submitted an amended registration statement for its spot Ethereum ETF, now rebranded as The VanEck Ethereum Trust. Following closely, 21Shares filed a new registration for its spot Ethereum ETFs. Grayscale also joined the fray with two amended filings: one for its $28 billion Grayscale Ethereum Trust and another for a more cost-effective "mini" ETF.
The wave of filings continued with Franklin Templeton, Fidelity, and BlackRock each submitting their own amended filings for spot Ethereum ETFs. Notably, none of the filings disclosed planned fees, a detail that Bloomberg ETF analyst Eric Balchunas noted the SEC has not yet required. Balchunas suggested that another round of updates including fees is expected before final approvals, predicting a potential approval date around July 18th.
VanEck's amended registration statement saw some regulatory language regarding custody removed. This deleted section had previously described how Ethereum withdrawals would be processed through the entity designated to safeguard assets for the fund. These changes mirrored adjustments made by Bitwise the previous week, which included details on the SEC's stance regarding compliance in the crypto market.
VanEck’s filing also highlighted Gensler's call for federal legislation focused on digital asset trading to prevent transactions, products, and platforms from "falling between regulatory cracks." Similarly, 21Shares’ amended filing included disclosure language on the SEC’s regulatory efforts.
Despite the SEC approving several key filings for spot Ethereum ETFs in May, the regulator still needs to approve S-1 forms from eight asset managers. Gensler has previously stated that the approval process hinges on asset managers' ability to provide full disclosures.
Several asset managers have submitted amended filings to the SEC for the spot Ethereum ETFs. VanEck submitted an amended registration statement for its spot Ethereum ETF, now rebranded as The VanEck Ethereum Trust. Following closely, 21Shares filed a new registration for its spot Ethereum ETFs. Grayscale also joined the fray with two amended filings: one for its $28 billion Grayscale Ethereum Trust and another for a more cost-effective "mini" ETF.
The wave of filings continued with Franklin Templeton, Fidelity, and BlackRock each submitting their own amended filings for spot Ethereum ETFs. Notably, none of the filings disclosed planned fees, a detail that Bloomberg ETF analyst Eric Balchunas noted the SEC has not yet required. Balchunas suggested that another round of updates including fees is expected before final approvals, predicting a potential approval date around July 18th.
VanEck's amended registration statement saw some regulatory language regarding custody removed. This deleted section had previously described how Ethereum withdrawals would be processed through the entity designated to safeguard assets for the fund. These changes mirrored adjustments made by Bitwise the previous week, which included details on the SEC's stance regarding compliance in the crypto market.
VanEck’s filing also highlighted Gensler's call for federal legislation focused on digital asset trading to prevent transactions, products, and platforms from "falling between regulatory cracks." Similarly, 21Shares’ amended filing included disclosure language on the SEC’s regulatory efforts.
Despite the SEC approving several key filings for spot Ethereum ETFs in May, the regulator still needs to approve S-1 forms from eight asset managers. Gensler has previously stated that the approval process hinges on asset managers' ability to provide full disclosures.
🧯$WLD : continued precaution necessary !
If you consider investing in $WLD, I would advice to think twice. Have you considered how many tokens are not yet released? The biggest proportion of all tokens will still be unlocked.
Another weak sign is by how little $WLD rose since the market rebound on the weekend. Compare this with the rest of the market. Most coins did way better.
Stay strong. Hold good coins! 💎
#PatienceWins
If you consider investing in $WLD, I would advice to think twice. Have you considered how many tokens are not yet released? The biggest proportion of all tokens will still be unlocked.
Another weak sign is by how little $WLD rose since the market rebound on the weekend. Compare this with the rest of the market. Most coins did way better.
Stay strong. Hold good coins! 💎
#PatienceWins