Bitcoin, Ether Rally Cools Following U.S. Ether ETF Listing Approval
One trader said ether’s sell-off on positive news is typical “buy the rumors, sell the facts” behavior.
One trader said ether’s sell-off on positive news is typical “buy the rumors, sell the facts” behavior.
The Commission on Thursday approved 19b-4 forms filed by national securities exchanges.
Ether spot ETF approval would set a precedent as the first non-bitcoin digital asset to be considered a commodity, raising expectations that solana could follow the same path, the report said.
The forecast mirrors the market reaction after spot bitcoin ETFs were approved in January, QCP said.
There is a 90% probability the SEC will approve a spot ether ETF, one observer said, drawing attention to the narrowed discount in the Grayscale Ethereum Trust.
All the updated forms removed the provisions for staking ether, which some say was causing a regulatory roadblock.
The surge in deposits comes after a 22% rally in ether spurred by hopes of a spot ETF approval.
The latest price moves in crypto markets in context for May 22, 2024.
SOL is often cited as a contender to replace ETH eventually. This week’s market action shows how Herculean the task would be.
The latest price moves in crypto markets in context for May 21, 2024.