The SEC approved spot ETH ETFs on Thursday after engaging with issuers on Monday, following weeks of silence. This unexpected approval comes after asking exchanges to submit amended filings, boosting analyst approval odds from 25% to 75%. The SEC's move is seen as political, possibly influenced by President Biden after Trumpâs pro-crypto stance. The SEC still needs to approve S-1 applications before ETFs launch.
Experts predict that like Bitcoinâs post-ETF approval rally, Ethereum might hit new highs. DeFi tokens could also see significant gains. However, concerns exist about potential security risks due to ETH moving into ETFs. Analysts suggest ETF inflows for ETH might be lower than Bitcoin, as investors might prefer staking rewards over ETF holdings.
