Ethereum Price Prediction: ETH Slides Almost 2% As SEC Approves Ethereum ETFs And This Learn-To-Earn Crypto Goes Ballistic
The Ethereum price dropped 2% in the past 24 hours to trade for $3,662 as of 05:50 a.m. EST on trading volume that soared 90%. The fall came despite euphoria in the crypto industry triggered by the landmark approval of spot ETH ETFs (exchange-traded funds) on Thursday. BOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It's really happening. h/t @PhoenixTrades_ pic.twitter.com/KQ39mDyCbT — James Seyffart (@JSeyff) May 23, 2024 The plunge in the Ethereum price shows that the approval by the Securities and Exchange Commission was already priced in by markets. The US Securities and Exchange Commission (SEC) approved 19b-4 forms for ETF applications filed by Ark, Bitwise, BlackRock, Fidelity, Franklin Templeton, Grayscale, VanEck, and Invesco Galaxy “on an accelerated basis.” However, the funds will not be able to trade until the SEC approves S-1 filings from the applicants. “If they work extremely hard it can be ...