Matrixport, which dropped the price before Bitcoin ETF, said "Rally is coming" for Ethereum!

Matrixport's latest post indicates that the SEC is likely to approve ETH ETFs this week, which could lead to a recovery in ETH prices.

Matrixport, which brought a decline in price with the report it published before the Bitcoin ETF approval, showed in its post on Twitter how the Ethereum (ETH) price might react to a possible exchange traded fund (ETF) approval by the US Securities and Exchange Commission (SEC).

According to the information obtained from the post, the chart focusing on the past performance of Ethereum offers the following important points:

ETH price recorded a 20% rally after the SEC ordered to revise ETF applications on May 20. However, on May 23, the SEC approved 19b-4 filings for ETH ETFs; However, ETF issuers' S-1 applications are still in the evaluation process.

It is stated that Matrixport may have postponed its decision due to the SEC's July 4 holiday. It is predicted that there may be a recovery in the market if the SEC approves ETFs within this week.

Stay tuned for new information