#现货以太坊ETF获美SEC批准 Deja vu! ETH fell 4% after the SEC approved the spot Ethereum ETF. This is similar to what happened after the Bitcoin ETF was approved.
Many believed that the U.S. passing of a spot ETF would be a boon for the world’s second-largest cryptocurrency. That may still be the case. But in the hours following the SEC’s approval, Ethereum’s price barely moved — up just 1%.
At the time of the approval, Ethereum was trading at $3,840, but has now fallen 3.6% to $3,701, according to Coingecko. The decline has been more pronounced over the past 24 hours, down 6% from $3,926, as news of the approval began to circulate.
This was a classic “buy the rumor, sell the news” move as Ethereum’s price surged 9% within minutes of rumors of an impending ETF approval. Now that the news is confirmed, the market is selling off.
Bitcoin also saw a similar trend after the spot Bitcoin ETF was approved in January. The morning after the approval, Bitcoin plunged about 6%, and then plunged another 12% in the following week. All in all, it took a full month of volatility for BTC to return to the price on the day the ETF was approved.
But when it did, the price of Bitcoin began to rise steadily to new all-time highs as trading volume from 10 spot Bitcoin ETFs flooded the market.
British multinational bank Standard Chartered predicts that both ETH and BTC will soar after the Ethereum ETF is approved.
Geoff Kendrick, digital asset researcher at Standard Chartered Bank, said: "The approval of the ETH ETF will further legitimize the industry and is therefore also good for BTC." He added, "BTC prices are expected to hit a record high over the weekend."
If that happens to Bitcoin, it probably won’t happen anytime soon. BTC is down 3.5% in the past 24 hours.
