Will It Be Jubilation or Devastation? Ethereum ETF Call Imminent

[Ozero]

If the Ethereum ETF gets approved, I think it would legitimize crypto,

In my opinion bitcoin etf already did that. Now more eyes are drawn to bitcoin and cryptocurrencies at large. Ethereum etf being approved will definitely benefit those who are investors of ethereum but I am not quite sure about its implications on the whole crypto world.

After ethereum etf it might cause more coins being considered for etf approvals though I wouldn’t know if that would be such a good idea. Perhaps not. But let’s just wait and see.

On May 23, the SEC approved applications from issuers of Ethereum-based spot exchange-traded funds. This is truly a huge event after the SEC made a similar decision on Bitcoin in January. Then the price of Bitcoin went up sharply and shook up the cryptocurrency market. The same thing should happen now, after the approval of ETFs on Ethereum. Only this time, the price increase should also affect tokens on the ETH blockchain. Analysts predict that the price of Ethereum should soon rise to $6,600.    But most likely this will happen in a few weeks. After all, trading of spot exchange-traded funds based on Ethereum will launch after the SEC signs registration statements on Form S-1, and this will take about a few more weeks.

[bluebit25]

So the current results have fully answered the OP's questions. Before that, I also speculated that the ETH spot ETF was approved but it was not as scripted and it came faster than I thought, but recently there have been many new speculation that ETH will soon hit ATH as Bitcoin follows. But observing the market situation, we are at a stage where there is interest from many sides in this field. There are many reasons for a positive view on future prices but fluctuations in the market. This space is always unique because the scale is not too large for the economy. So imo, ETH will also bring specific targets because I only see at this stage just the beginning of the journey of stronger crypto adoption.

[Tycoon01]

I also saw the news that Ethereum Spot ETF has been finally approved yesterday 11 pm in the night. And this is a good news to the cryptocurrency community because if bitcoin and Ethereum have been approved by the SEC then the cryptocurrency market will increase and those who invested in Ethereum for years would smile when it reach $20,000. This is really a milestone achievement of Ethereum community.
Ethereum now is on it Bull market.

I expected the impact on the price to be better than this, but the market has been pretty unpredictable lately, which is why I chose Bitget high APR flexible savings to save my ETH, rather than locking it. And I believe with the upcoming bull run, things could get very interesting for ETH price. The approval of Ethereum Spot ETF will likely attract more institutional investors, which could lead to increased adoption and a potential price surge. Fingers crossed that ETH reaches $20,000 and beyond.

[nelson4lov]

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What do you think the implications of an approved or rejected Ethereum ETF will be for the crypto market as a whole? Share your thoughts below!

An approved ETF means that Ethereum is now "cool" again and everyone who shaded it in favour of solana will have to take back their words because ETH will take the spotlight from Bitcoin in the interim because being the only altcoin to get an ETF so far is. a big deal. It goes to show how far ethereum has grown over the year as a protocol and as an ecosystem (L2s, Rollups, etc).

Things about to get interesting for ETH ecosystem projects as well.