Bankless: Can an Ethereum Spot ETF Be Approved?

Iravan774

Bankless: Can an Ethereum Spot ETF Be Approved? Will It Become a Catalyst for the Bull Market?

After a decade of delays and denials, the U.S. Securities and Exchange Commission (SEC) narrowly approved an ETF last week, allowing spot Bitcoin ETFs to be listed on U.S. stock exchanges, bringing joy to the entire crypto industry!
Spot Bitcoin ETF products began trading last Thursday, and while Bitcoin did not experience a significant surge as some in the crypto industry had hoped, the funds flowing into these ETFs aligned with analysts' expectations. The newly established instruments attracted nearly $2.9 billion in inflows.
Although the $1.2 billion redemption of GBTC and crypto traders unwinding bets on the approval of a bullish Bitcoin ETF currently exert some dampening effect on Bitcoin prices, the long-term impact of the ETF approval cannot be underestimated.

977Iti

Whether it will become a catalyst is unclear.

Ritu77

This should be able to get approval.

Samiksha

It's uncertain whether there is a chance for this.

Ritu13

Becoming a bull market catalyst is not impossible.