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🚀 Although, the official ETH spot ETF approval process could take a few more months, it could boost rival tokens like Solana (SOL) to the newer highs. One could argue that ETH spot ETF approval could set a precedent for other cryptocurrencies and commodities, benefiting tokens like SOL.
Looking at the history, Bitcoin's 75% rally post-ETF approval suggests similar potential for ETH. Additionally, if Trump wins the US election the bull run might go crazy 🇺🇸.
💸 The actual bull run is yet to come and it will be a real party! What do you guys think? Are you also HODLing ETH and SOL?
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In the past 24 hours, both Bitcoin (BTC) 📉 and Etherium (ETH) 📉 prices have declined, despite several ETH exchange-traded funds 📈 receiving approval to list in the U.S. 🇺🇸 ETH, which had increased by over 20% 📊 in the past week, dropped 4% following the approval, which traders attributed to a "sell the news" event 📰. Analysts expect significant long-term institutional capital influx 💰 into the ETH market.
The SEC ✅ approved regulatory filings for ETH ETFs, a major milestone for the cryptocurrency 🌟. However, these ETFs are not yet cleared to trade as they still require approval for their S-1 filings 📑. The approved filings involve eight ETFs from various major financial firms 💼, expected to list on Nasdaq, NYSE Arca, and Cboe BZX exchanges. Standard Chartered forecasts potential inflows of up to $45 billion 💸 within the first year if these ETFs start trading.
Despite the price drop, some traders anticipate a 60% rally 🚀 in ETH in the upcoming months, driven by increased futures and spot buying demand 📈.
What do you guys think? Is ETH going to make a new ATH this year? Comment below your price prediction. 🔮 #12369
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