#altcoins
The future of Etherieum.
Today the decision of U.S. securities (SEC) of listing Etherieum or not on Exchange-Traded Fund (ETF).
It's still a 50-50 chance but it important to know that there are concerns, positive indicators and warnings.
On-chain analytics firm CryptoQuant warned that Ethereum prices could fluctuate if pending spot Ethereum (ETF) encounter uncertainties.
It warned that ETH could undergo a “significant price correction” if the U.S. securities (SEC) denies ETH ETF applications or delays the approval process.
Don't forget that Bitcoin dropped 17% after ETF approval due to the hype and leveraged bets. In contrast, the potential approval of an ETH ETF has been less expected, leading to less extreme pre-positioning, the reports says.
Positive signs:
1- Reuters reported that The U.S. securities regulator on Monday asked Nasdaq, CBOE and NYSE to fine-tune their applications to list spot ether exchange-traded-funds (ETFs), signaling the agency may be poised to approve the filings, multiple people familiar with the process told Reuters.
Securities and Exchange Commission officials asked the exchanges to submit their revisions by the end of Tuesday, two of those sources said.
2- Many of us in the industry expected a delay in regulatory approval of ether ETFs,” said Todd Rosenbluth, head of research at VettaFi. “However, the SEC has been engaging with issuers this week, and documents have been refiled, making it seem likely that we will have new spot crypto ETFs.
Note:
FOX Business reporter Eleanor Terrett stated that the SEC and issuers are now entering conversations around S-1 registration statements. Bloomberg ETF analyst James Seyffart believes that funds may not launch for weeks or months after initial approvals.
This means that it may take time for a significant impact if Ethereum is listed on the ETF.
