$ETH
Previously, the market was not optimistic about the approval of the Ethereum ETF (a fund that invests in Ethereum).
But recently, the U.S. Securities and Exchange Commission (SEC) asked exchanges to speed up the processing of the 19B-4 documents for the Ethereum ETF, which means that the Ethereum ETF may be approved.
If approved, everyone believes that the price of Ethereum (ETH) may rise to more than $5,000.
Now, everyone is eager to buy Ethereum (ETH). However, the approval of the Ethereum ETF actually requires two steps: first, the approval of the 19B-4 document, which may be quick, and there may be a result this month;
Then the approval of the S-1 document, which may take longer. But the most important thing is that everyone now expects the Ethereum ETF to be approved.
In addition, the Federal Reserve said yesterday that there is no reason to raise interest rates at present, which is also good news for the cryptocurrency market. At the same time, U.S. spot ETF funds are also continuing to buy Bitcoin (BTC), and have bought 3,077.
From the on-chain data, Bitcoin (BTC) in the exchange is continuously being bought, while the inflow of stablecoins is not much.
Next, wait and see, there is still a 25% risk of failure.
