Wow! Look at this! The SEC's attitude towards the Ethereum ETF has made a huge reversal! Because of this, the price of Ethereum (ETH) has skyrocketed by more than 20% overnight, with a 24-hour transaction volume of more than 2.3 billion US dollars. This increase is simply amazing! This has directly turned the cryptocurrency market upside down!
Did you know that the US SEC suddenly asked stock exchanges to update the 19b-4 filing documents for Ethereum spot ETFs recently after delaying the decision several times? This means that the SEC is likely to approve these applications before the critical deadline of Thursday this week! Although it is not certain that it will be approved, it has already made the market as excited as chicken blood!
Bloomberg Intelligence ETF analyst Eric Balchunas even boldly raised the approval probability of the spot Ethereum ETF from the previous pitiful 25% to 75%! He also said that the increasing politicization of cryptocurrency is the reason behind this sudden change! Hum, how sharp!
Because of this news, the price of Ethereum rebounded strongly from the previous continuous downturn, soaring all the way to over $3,700! The ETH/BTC exchange rate also soared, making the entire market crazy! Those tokens related to the Ethereum ecosystem also soared, which clearly shows that the market is full of strong confidence in the future of Ethereum!
Before this, analysts were cautious about whether the spot Ethereum ETF could be approved by the US SEC. But now, with the change in the market environment and the change in the SEC's attitude, the market has immediately re-examined the possibility! Coinbase institutional research analyst David Han said in the report that although everyone generally believes that the US authorities will not approve it in the short term, the possibility of the Ethereum spot ETF being approved is still greatly underestimated!
Those crypto institutions have also expressed their views on whether the spot Ethereum ETF will be approved or not. Alex Thorn, head of research at Galaxy Digital, said that if the SEC's attitude towards the Ethereum ETF really changes, it can find a balance between ETH itself not being a security and ETH being pledged being a security. Jake Chervinsky, chief legal officer of Variant Fund, even said directly that if the spot Ethereum ETF is approved, it will mark a major shift in US cryptocurrency policy!

We are always prone to hold on to orders, or get stuck in long or short orders. Once we are stuck, many investors will post their loss charts on the market and ask what to do, and they are panicking. So, I suggest that everyone pay attention to me!