Will the Ethereum ETF be approved in the near future? What are the effects of passing or not passing?
Ethereum ETF is the hottest topic these days. The SEC will give a reply to VanEck's Ethereum spot ETF. How will this result affect the market?
On May 23, the US SEC made a decision on the Invesco Galaxy Ethereum spot ETF (delayed)
On May 24, ARK Ethereum spot ETF
On May 30, Grayscale Ethereum futures ETF: (application has been withdrawn)
Grayscale took a surprising move and withdrew its 19b-4 application for Ethereum (ETH) futures exchange-traded fund (ETF), [No threshold to enter the village; Satellite (L20240098)] It was only three weeks before the securities regulator was forced to make a decision. The cryptocurrency asset management company submitted a notice to the US Securities and Exchange Commission on May 7 to withdraw the Grayscale Ethereum futures ETF.
A: Passed.
If it passes, it will undoubtedly be a long-term positive, which can be seen from the capital inflow after the Bitcoin ETF passes. However, it is precisely because of the performance of the Bitcoin ETF that ETH has already factored all the positive expectations (75% probability of passing) into the price. Therefore, it is likely to cause short-term selling pressure after passing (first rise and then fall after passing), and the positive landing is negative.
B: Not passed.
If it does not pass, the SEC will also review the Ethereum spot ETF applications of ARK, 21SHARES, Hashdex, Grayscale and other companies in the next few days. If the reason for failure is that ETH is classified as a security, then the ETH price will go back to where it came from, because the next few companies will not pass, but if it is for other reasons, the expectations for the future still exist, and the currency price is likely to continue to maintain high speculation expectations.
Judging from the recent actions of various asset management institutions, the attitude of the SEC, and the words reported by the media, the Ethereum ETF will definitely be approved this month, but this round of SEC did not play a few wolf games like the Bitcoin ETF, which is a bit unlike the SEC's style. It seems that ETH has a great chance to return to above 4,000 this month.
Before the news comes out, the pullback is an opportunity. Boldly build a position and wait for the news to come out. You can appropriately take a part of the profit at highs and then buy it back at lows. You can attack when you retreat and defend when you advance!
