In a bit more than 24 hrs, we will get the SEC decision on $ETH , and market is pricing in 100% chance of approval. What could happen is SEC approves the 19B-4 applications, but may not get final approval for a few more weeks. That would be quite positive, because once you approve the 19B-4s then it's 90% chance of approval, and I think it is healthy for the market to wait another few weeks until final ETF listing. The reason is because this ETH U-turn pivot from Biden admin is such a surprise, that most of the ETFs have not had the time to produce their TV ads. Remember when $BTC ETF was listing, everyone thought it was going to happen so VanEck actually made TV ads and that attracted a lot of attention. This time it was a surprise for ETH, so there is no TV ads ready yet.... if ETH ETFs list on 24th (friday) then I think the INflows could be relatively low, because no ETF is prepared this time! Also what's important is: WHEN DOES Grayscale ETHE Trust gets converted into ETF?? We all know the GBTC Grayscale ETF kept dumping BTCs, and the same fund also has an ETH trust (ETHE) which has like $9 Bn worth of ETH, and they could dump that. You see a week ago the ETHE trust was at 25% discount to NAV, and now it has narrowed to 6.5%, meaning a lot of people bought at discount and when the Grayscale ETH ETF is approved, those people are very likely to sell. So that will be like the GBTC selling of BTC situation once again.... Now ETHE trust to ETF approval final deadline is 18th of June... So let's hope we see advertising and other ETFs of ETH approved BEFORE that date and solid IN-flows before then.... because the sell pressure will be big, and if there is no huge buying pressure by then, then it will easily be a Sell on News situation. So for Thursday US time, we need to see which ETH funds are approved, if any at all #ETFvsBTC#BTC#ETHš„š„š„š„
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