SEC likely to approve spot Ethereum ETFs on May 23

[bbc.reporter]

It appears that there are people from traditional finance who have begun having an interest on the cryptospace and applying for ETFs for them hehehh. The skeptical me thinks that the investment banking institutions that ignored applying for a Bitcoin spot ETF might certainly apply for an Ethereum spot ETF.

However, the winner again will be this smiling man. Uncle Larry of Blackrock hehehe. Has everyone heard an interview of uncle Larry talking about the cryptospace? It implies that the cryptospace will be his next playground.



The Securities and Exchange Commission is expected to follow the strategy employed in approving spot bitcoin exchange-traded funds for spot Ethereum  ETH -3.34%  ETFs, starting with rejections and ultimately granting approval on the initial final deadline on May 23, according to Standard Chartered Bank.

"We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs," Geoffrey Kendrick, head of Standard Chartered Bank's forex and digital assets research, wrote in a report on Tuesday. "If ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval, ETH could trade as high as $4,000 by then."

Read in full https://www.theblock.co/post/275174/sec-ethereum-etf-approval-may-standard-chartered-bank

[BD Technical]

Yes, I actually saw it this morning.  I wanted to share with you but today came and saw that you shared it bro thanks.  In fact, brother, I have seen a few days in the morning that if it is approved, then the minimum price will go to four thousand dollars.  We are hopeful and.  Very soon it will be approved because btc has become apu if it happens then it is very good for crypto for our marketplace.

Moreover, if you see that someone has given some information, I will try to give you the link below, from there you can check it if you want.



News Link :- https://www.google.com/amp/s/www.coindesk.com/markets/2024/01/30/ether-could-hit-4000-with-likely-spot-eth-etf-approval-in-may-standard-chartered/amp/

[GreatArkansas]

Wow, this is so fast just in case it will be approved in this year.
For me, I am expecting an Ethereum ETF but not this fast, I am expecting that it will be approved in years because Bitcoin is just a new ETF.
I am also hoping that the market will be fine and no high volatile like pump or dump so SEC will not be alarmed.

[Bureau]

I support Ethereum ETF, but I never expected that a date would be finalized for approval before the year ends. This is good news for everyone who believes in Ethereum and who has invested in it as the approval might spike the price to a great extent. The date for the ETF to be approved is after Bitcoin halving which could bring back the bull market earlier than expected.

[Fundamentals Of]

Not a bad target when it's the final deadline. And not a bad price prediction too when it has already been way above that. The ATH of ETH was almost $5,000. $4,000 will come back of course. When, I don't know, but an approval of an Ethereum spot ETF will most likely provide a big boost to it. And since the players are the same powerful financial institutions, there is a reason to believe that the applications will also be approved.

It's not so bad to keep some ETH in case it flies.

[avp2306]

Since bitcoin ETF has been approve already for sure its not impossible for ETH to get a ETF approval to since this coin is top 2 in the market and the volume it got is also outrageous where investors would really love to trade it. But if this approval will happen on May or whatever month of this year I think its fine since it solidify the strong existence of crypto and for sure it can influence for more other top alt to also get a ETF approval to.

Bitcoin ETF approval and also for other is really a great step for crypto to get known by a lot of people so once ETH will got that to for sure there will be large hype will coming and might they can get new people to invest then this will became more healthier for ETH or shall we say also to the crypto market itself.

[EarnOnVictor]

For the SEC to have approved Bitcoin, I do not think they have anything reasonable that would prevent them from approving Ethereum also. Ethereum is the number two cryptocurrency in the world, and apart from that, it is more compressed in price and purposeful than Bitcoin, it is better scaled and can be well-managed by the known brain behind it. This makes it better similar to the old assets.

As for Larry, you can't expect less, and what has helped exchanges like Binance is that they are the front guys in the business. Now that the ETF opportunity has come for Bitcoin and his company, you can't think less that he will build his entire empire around it if possible. Needless to say, he has all what it takes to achieve such.

[arjunmujay]

Since bitcoin ETF has been approve already for sure its not impossible for ETH to get a ETF approval to since this coin is top 2 in the market and the volume it got is also outrageous where investors would really love to trade it. But if this approval will happen on May or whatever month of this year I think its fine since it solidify the strong existence of crypto and for sure it can influence for more other top alt to also get a ETF approval to.

Bitcoin ETF approval and also for other is really a great step for crypto to get known by a lot of people so once ETH will got that to for sure there will be large hype will coming and might they can get new people to invest then this will became more healthier for ETH or shall we say also to the crypto market itself.

everyone in the crypto world must have been waiting for this moment. It's true as you said, this is a good step for crypto in the future, especially for altcoins. considering that ethereum will never be replaced by other altcoins, even though many competitors are trying to shift its position.

[electronicash]

it's a race against time i think so why wait for another few months when halving is getting closer so let's just approve every ETF filed. news like this one should notify people to invest in crypto because even the banks are already up trying to grab their share.

it doesn't matter anymore whether Larry Fink will have more and can become the largest holder of major cryptocurrencies as long as the rest of the people in the world also have some amount.

[wheelz1200]

I'd be skeptical of that actually happening.  It's taken a long time for bitcoin to get over the hump.  The way the SEC and government regulations take forever and a day I'd say it would be years away.  A couple months after bitcoin getting approved I bet they want to see what happens before opening the altcoin floodgates into the mainstream.

[btc78]

Wow it is coming sooner than everyone probably expected everyone thought that it would take sec quite the long time to approve ethereum etf considering how long it took for them to approve bitcoin but i guess the approval of bitcoin etf allowed for a much looser opinion on altcoins especially the top performing one among altcoins

We can expect lots of individuals, companies trying to acquire crypto particularly bitcoin and ethereum in the next following months following the etf approval of both coins we can expect good news after good news this year may everyone get their wanted end results!

[letteredhub]

Yes, I actually saw it this morning.  I wanted to share with you but today came and saw that you shared it bro thanks.  In fact, brother, I have seen a few days in the morning that if it is approved, then the minimum price will go to four thousand dollars.  We are hopeful and.  Very soon it will be approved because btc has become apu if it happens then it is very good for crypto for our marketplace.

Although this is a welcome development for cryptocurrency seeing an appointed date for ethereum approval and more interesting the date is just within this year 2023 same year the bitcoin spot ETF got approved. Something I learned from the approval of the bitcoin ETF the price after the approval humbled a lot of investors who were so optimistic with sudden expectations of bitcoin price soaring high up to $100k immediately approved but that didn't happen it's rather in the future the positive effect of the bitcoin ETF approval will start surfacing in the bitcoin price, in same vein with the ethereum ETF approval most of these speculative prices may not be met not even the $4k mark. The benefits to ETF approval is in a  long term time to come. My point of view though.

[nurilham]

Wow, this is so fast just in case it will be approved in this year.
For me, I am expecting an Ethereum ETF but not this fast, I am expecting that it will be approved in years because Bitcoin is just a new ETF.
I am also hoping that the market will be fine and no high volatile like pump or dump so SEC will not be alarmed.

Since Bitcoin ETF was approved, I have guessed that it will be easier to approve Ethereum ETF as well. However, it is true that the approval of Ethereum ETF seems quite fast that what we expect. Even, I assume the application of Ethereum ETF is too early. But it is good if Ethereum ETF will be approved as well, we will have the two best crypto coins in ETF market. SEC may realize that Bitcoin and Ethereum have deserved to be a part of ETF market.

How can make no high volatile, mate? I think there is no way to make the prices of Bitcoin and Ethereum to be more stable. There is no institution that can control the demand of Bitcoin and Ethereum. So, the prices will be always very volatile because we can't ensure how big the demand. Pump-dump is also a part of crypto coins, it is unavoidable to happen.

[o48o]

-cut-
"We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs," Geoffrey Kendrick, head of Standard Chartered Bank's forex and digital assets research, wrote in a report on Tuesday. "If ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval, ETH could trade as high as $4,000 by then."[/i]

This could happen, but eth finances are quite different to bitcoin, so i can't imagine they would immediately accept it. Bitcoin ETF wasn't walk in the park either. And unlike bitcoin, ethereum had ico, which can cause issues with sec.

Not a bad target when it's the final deadline. And not a bad price prediction too when it has already been way above that. The ATH of ETH was almost $5,000. $4,000 will come back of course. When, I don't know, but an approval of an Ethereum spot ETF will most likely provide a big boost to it. And since the players are the same powerful financial institutions, there is a reason to believe that the applications will also be approved.

It's not so bad to keep some ETH in case it flies.

But why it would give boost to eth if it did opposite to bitcoin? Volume doesn't equal price growth. It just means more money for people who get the fees for trading. And those players (powerful financial institutions), you are talking about. Why do you think they buy and hold it, and not short it? I am certain it CAN cause explosive moves on chart, but it can also cause maturity, and less volatility, similar to traditional assets.

[JeffBrad12]

if thats true I guess its great news but frankly blackrock have good history with this kind of thing surely Ethereum ETF is just matter of time, since naturally bitcoin and ETH i think kinda the same in term of characteristics when it comes down as an investment it just differ in the volume and market capital.
if this is the case i guess i will just stake majority of my ethereum again and wait for may. but im not expecting there to be significant increase though just like how bitcoin getting approved
by the ETF and the market just have slight increase, but it still should be a good news overall.
but whats important here is if many crypto approved its ETF its become accessible easily by general investors.

[Fundamentals Of]

Not a bad target when it's the final deadline. And not a bad price prediction too when it has already been way above that. The ATH of ETH was almost $5,000. $4,000 will come back of course. When, I don't know, but an approval of an Ethereum spot ETF will most likely provide a big boost to it. And since the players are the same powerful financial institutions, there is a reason to believe that the applications will also be approved.

It's not so bad to keep some ETH in case it flies.

But why it would give boost to eth if it did opposite to bitcoin? Volume doesn't equal price growth. It just means more money for people who get the fees for trading. And those players (powerful financial institutions), you are talking about. Why do you think they buy and hold it, and not short it? I am certain it CAN cause explosive moves on chart, but it can also cause maturity, and less volatility, similar to traditional assets.

Buy the rumor sell the news. That's what happened to Bitcoin. A day or two leading to the Bitcoin spot ETF approval, the price of Bitcoin surged. There was a spike. Investors especially those that got insider information must have bought prior to the release of the official approval. As soon the approval was announced by the SEC, selling immediately happened causing the price to plunge all the way to $38,000.

If the same will happen to ETH, I'm also expecting the price to rise a few days before the announcement. The announcement day must be a good day to sell. Buying back when the price has already corrected a lot.

[bbc.reporter]

Wow it is coming sooner than everyone probably expected everyone thought that it would take sec quite the long time to approve ethereum etf considering how long it took for them to approve bitcoin but i guess the approval of bitcoin etf allowed for a much looser opinion on altcoins especially the top performing one among altcoins

We can expect lots of individuals, companies trying to acquire crypto particularly bitcoin and ethereum in the next following months following the etf approval of both coins we can expect good news after good news this year may everyone get their wanted end results!

It began on the approval of the spot ETF for bitcoin. We can be quite certain that the other spot ETFs for the  other major cryptocoins might not have a similar opposition and delays from Gary Gensler and the SEC. However, having an ETF approved for Ethereum on May might be very early. Have there been applications for this already?

On Ethereum, I speculate that when the rumor spreads on a spot ETF approval it might have a much stronger pump because Ethereum requires lesser inflows of cash than Bitcoin, I reckon.

@Fundamentals Of. It was Grayscale that began dumping bitcoin on the day of approval because GBTC holders were dumping their GBTC.

[Kelward]

I support Ethereum ETF, but I never expected that a date would be finalized for approval before the year ends. This is good news for everyone who believes in Ethereum and who has invested in it as the approval might spike the price to a great extent. The date for the ETF to be approved is after Bitcoin halving which could bring back the bull market earlier than expected.

Ethereum, ETF approval will be another milestone for cryptocurrency adoption because it'll increase the adoption and more investors will enter into cryptocurrency related investments. I wouldn't be surprised if US, SEC approves the ETF, in May, this year, this is because Bitcoin, ETF, being the first has cleared most of the hurdles that Ethereum, would have gone through, it'll be easier for SEC, to understand that approving their ETF, is what's best for business.

[husencoe]

I think this is a big news in this month.  Indeed, it is possible that after the SEC approves the ETF for BTC, it will also apply to ETH.  We hope this will continue to expand to other major coins so that it can provide a new milestone for crypto currencies.  I think this will be an opportunity for ETH to be a bullish soon considering that various things will definitely happen. I really can't wait for those times

[Volimack]

The crypto market will expand further after the SEC's approval strengthens the global cryptocurrency position with Bitcoin ETFs and spot Ethereum ETFs. This move is a significant step towards the mainstream adoption of cryptocurrencies. This will open up the cryptocurrency market to a wider range of investors. Also, a spot Ethereum ETFs will be worth more than the real time price.