WHAT IS THE REASON FOR THE ETF TO BE APPROVED AND ETH STILL NOT INCREASED?

Although the ETFs have been approved, they are not immediately available for trading as approval is required for the S-1 registration statement

VanEck submitted its amended S-1 filing to the SEC following news of the form 19b-4 approval, and analysts say it could take weeks to months for the S-1 to be approved.

“ETFs haven't really launched yet, so new capital is still coming.”

“Expect a huge inflow in the first week, potentially in the billions of dollars,” crypto research firm Second Mountain announced shortly before the SEC approved the ETFs.

However, some say it may not immediately lead to an uptrend.

Bitcoin prices dropped 15% after the spot Bitcoin ETF was approved for trading on January 10, and it took 30 days for the price to spike 30% to $51,870.

There are also lingering concerns that Grayscale's announcement of plans to convert the Grayscale Ethereum Trust (ETHE) into a spot Ether ETF could lead to significant outflows - similar to the Grayscale Bitcoin Trust (GBTC) after the conversion into an ETF in January.

“Grayscale has also resubmitted its ETHE registration. Do you remember the GBTC outflow? Over $11 billion in ETH has been stuck for 7 years,” trader Rho Rider warned.

Since spot Bitcoin ETFs began trading on January 11, GBTC has seen $17.6 billion in divestments.

“ETH is shockingly undervalued,” independent Ethereum educator Sassal claimed, arguing that the market only had three days to “price in ETF approval.”