First Bitcoin ETF and now Ethereum ETF approved, what now?

[Bureau]

Earlier this year we saw how Bitcoin approval affected the crypto market. A short bull run began and Bitcoin created a new ATH. Since then everyone within the community were speculating whether Ethereum ETF will get approved by the SEC.

Good news is that a few hour back 8 Ethereum spot ETFs got approved. Resulting the Ethereum dominance in crypto market increasing to 17%. Currently Ethereum is in the green zone as that was expected while Bitcoin staying in red.

My question to everyone out here, can Bitcoin and Ethereum together bring in a big bull run, bigger than the one we saw in 2021? What are your expectations and what do you guys think with be the ATH for ETH?

[TheUltraElite]

ETFs always bring in a lot of attention and approval of another ETF will only mean bull runs happening once again. This time for ETH means good times for the ETH holders.

This will also raise the price of bitcoin and in the meantime we all can rejoice on the raised prices eventually sell to book some profits.

Since the trading will start later this year, the bullruns should follow then.

[pawanjain]

Yes ofcourse, ETH ETF has been in the news since a long time and now that it has been approved there will be a surge in ETH price in a few weeks.
This will increase the crypto marketcap and also attract a price surge in bitcoin.
So yeah, we can see a good bull run here onwards but things don't always go as planned.

[kentrolla]

This is a welcoming news because we have seen how it played out for Bitcoin when Bitcoin spot ETF was approved and same thing is gonna repeat for ETH as well. We were expecting this to happen at the time of Bitcoin ETF approval itself but it's not late we need to ensure we have ETH as a part of our portfolio because it will surely lead to surge in price of ETH and will make it even more mainstream.

[Bureau]

This is the combination that the crypto space will always remember and will be celebrated. Bitcoin ETF, Ethereum ETF and Larry Fink. These three will change the market for evere and we will be able to realised and understand  the phrase "to the moon" when Ethereum ETFs start trading in the market.

[Fiatless]

This is the combination that the crypto space will always remember and will be celebrated. Bitcoin ETF, Ethereum ETF and Larry Fink. These three will change the market for evere and we will be able to realised and understand  the phrase "to the moon" when Ethereum ETFs start trading in the market.

I don't think we should expect much from the proposed Ethereum ETF approval after experiencing the market reaction during the approval of Bitcoin ETF. There were predictions that Bitcoin would hit $100k immediately after the SEC approved the ETF, but the market reaction fell short of expectations. The price went high due to the media hype, and in a few weeks, price correction took place, and the market stabilized.

It is also noteworthy to indicate that it is the price of Bitcoin that controls the price movements of altcoins. If the price of Bitcoin goes high, altcoins usually experience the same and vice versa. So I doubt if the Ethereum ETF approval will have capacity to boast the crypto market. We might experience an increase in the price of ether, but like I said before, our expectations shouldn't be too high.

[avikz]

What now?

Wait for the day when big corporations sucks up all supply from the market and starts controlling it as per their own whim!

Having ETF approved, is moving us away from the actual goals of cryptocurrency. It should remain as people's money which any corporate intervention. But with ETF, millions of dollars worth of corporate money is flowing into the market which will eventually take out the control from people's hand to their own.

[newIndia]

Earlier this year we saw how Bitcoin approval affected the crypto market. A short bull run began and Bitcoin created a new ATH. Since then everyone within the community were speculating whether Ethereum ETF will get approved by the SEC.

Good news is that a few hour back 8 Ethereum spot ETFs got approved. Resulting the Ethereum dominance in crypto market increasing to 17%. Currently Ethereum is in the green zone as that was expected while Bitcoin staying in red.

My question to everyone out here, can Bitcoin and Ethereum together bring in a big bull run, bigger than the one we saw in 2021? What are your expectations and what do you guys think with be the ATH for ETH?

After the approval for spot Bitcoin ETFs on January 10, 2024, the Securities and Exchange Commission (SEC) has approved a rule change that allows exchanges to list spot Ethereum ETFs in the U.S. on May 23, 2024. No Ethereum ETF is approved yet.

What now?

Wait for the day when big corporations sucks up all supply from the market and starts controlling it as per their own whim!

Having ETF approved, is moving us away from the actual goals of cryptocurrency. It should remain as people's money which any corporate intervention. But with ETF, millions of dollars worth of corporate money is flowing into the market which will eventually take out the control from people's hand to their own.

Institutional money will create a different type of market condition for sure. But, they can not take the control from retail by design, unless retail willingly give up the once in a lifetime opportunity for sovereignty of finance.

[pakhitheboss]

After the approval for spot Bitcoin ETFs on January 10, 2024, the Securities and Exchange Commission (SEC) has approved a rule change that allows exchanges to list spot Ethereum ETFs in the U.S. on May 23, 2024. No Ethereum ETF is approved yet.

On May 24th the sport Ethereum ETF was approved and now it is formally a commodity.

https://cointelegraph.com/news/sec-etf-decision-means-ether-other-tokens-not-securities

The only issue now is that trading of spot Ethereum ETFs can only start after a form S1 has been approved. According to analysts it can take a couple of months. By the looks of it I think that by the year end we will see institutional investor taking the price of ETH to new all time high.

[Bureau]

Not much happening with Ethereum price in the current bullish market. It has not been even gone beyond $3900 mark which is quite strange. In the meantime there was a big price pump with BNB yesterday.

By the way the demand of Bitcoin ETF is so much that yesterday more than 12k BTC was bought from the narket whereas on 40 BTC were mined by the miners.