From May 20, the Ethereum spot ETF has gone from being unpopular to being approved. Now, it is only a matter of S-1 registration statement away from its official launch. This is a "good news" for Ethereum and even the crypto world.
From the documents announced by the SEC, the S-1 registration statement may require a certain amount of time for negotiation, such as pledge and security issues. However, most issuers have modified the pledge part of the S-1 registration statement, and I believe that the speed of subsequent progress can be accelerated.
Yesterday, I also gave different views on the two results in detail. At present, the result of the approval is that Ethereum has not risen sharply, but only recovered the part of the sharp drop. Now the ETF cannot be traded, so there is no incremental funds entering the market, that is, there is no new funds entering the market, and it is still the turnover of funds in the market. Also because Ethereum soared 20% in one day the day before yesterday, it is very difficult to make it rise another 20% without new funds entering. If there is profit taking, it is normal to fall.
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