Ethereum Steals the Spotlight — SEC's Approval of 11 Bitcoin ETFs Meets Tepid Ma

[sirty143]

Ethereum Steals the Spotlight — SEC's Approval of 11 Bitcoin ETFs Meets Tepid Market Reaction

In a landmark decision, the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs), a move long anticipated by crypto enthusiasts... See more for yourself here.

Your opinion is greatly appreciated.

[babo]

I believe that Ethereums rise is partly due to bitcoin and ETFs
now speculators are simply aiming for the approval of Ethereum ETFs, since they managed to get the Bitcoin ones approved, these are next on the list, of course

now blackrock and other KNOW how do

[Z-tight]

I see that the price of Ethereum pumped and the price of BTC didn't pump as people thought it would. This is just the short term movement and investors should not be worried about what is happening now, BTC price would surely be influenced by the approval of these spot etf's and with the halving coming, there is going to be a bull run in the long run.

[babo]

Of course I am not worried about this, thats not the point

the point is that Ethereum has had a frightening growth in this regard compared to bitcoin because the market is betting on the next ETFs, i.e. the Ethereum ETFs
I am sure they will be proposed soon, we can bet on it

[Husires]

The same thing that happened to Bitcoin will happen to Ethereum, as the price rose from $28,000, broke a resistance barrier above $32,000, and stabilized slightly before breaking the $38,000 barrier, reaching today’s prices at $42,000.
Ethereum may break either one or two levels.


The only thing that might prevent Ethereum from rising is a correction in the price of Bitcoin.

[yhiaali3]

Personally, I did not expect a significant rise in the price of Bitcoin after the expected approval, and I wrote about that in more than one topic. The reason is that these companies bought Bitcoin some time ago, and therefore the impact resulting from the large demand for Bitcoin has come and gone, and indeed we did not see any increase in demand after approval.

What really surprised me was that Ethereum rose unexpectedly instead of Bitcoin. The other thing is that Bitcoin rose within hours of the spread of the false news on the X platform, while it did not rise after the official approval was published.

[Z-tight]

the point is that Ethereum has had a frightening growth in this regard compared to bitcoin because the market is betting on the next ETFs, i.e. the Ethereum ETFs
I am sure they will be proposed soon, we can bet on it

You may be right, immediately the BTC spot etf's were approved, people started talking about an altcoin spot etf, i.e. an Ethereum spot etf, i don't know if this is close or just wishful thinking, but one thing i am sure about is that it is going to take a long time to get that.

Take a loot at the journey of BTC spot etf's in the U.S., so many proposale have been rejected until this year. It is also worth mentioning that altcoins are more risky, so the sec would be more reluctant to approve an altcoin spot etf.

[babo]

I know it seems a little crazy, they seem like drug addicts who immediately need another bigger dose of drugs
This thing scares me a little but unfortunately the markets are like this, we know it and we must be aware of it!

[Faisal2202]

For the past 2 days I have been hearing good words about ETH just like I was hearing for BTC and I do fell for the BTC news too, or I should say I bought the rumor but till now I have not sold the news. And now the same thing is happening with ETH, news outlets are publishing exciting articles about Ethereum in the same way they were publishing about BTC.

This means they are now trying to spread the rumors and then they will do the same "sell the news" this eliminates all the fun from such good news and the market did not make the moves that it should have. Now in my opinion ETH will also do the same. But the last date for ETF of ETH is around October of 2024 if I am not wrong. But I think it will be approved before than.

[babo]

in these last day
the dominance of eth increase

the dominance of btc decrease


all this happens for the reasons we just mentioned, people are now betting on Ethereum ETFs
so you know well how the market is moving, act accordingly

[Aanuoluwatofunmi]

This discussion is focused on two aspect, that of the bitcoin ETF approval and the Ethereum spotlight, but to start with, this bitcoin ETF was something this organizations have perceived to be a boom to their market and services, because anything that has to do with bitcoin will become a global recognition despite the whole thing is outside the network, as for Ethereum, there isn't anything much to talk about this until we begin not see how possible this is becoming for an achievement with the SEC.

[Charles-Tim]

I believe that Ethereums rise is partly due to bitcoin and ETFs

Yes, ethereum rose in price because bitcoin rose in price. Not only ethereum but also other altcoins. But ether also increased in price when the news of blackrock applying for ethereum spot ETF or so. It was a big jump within a day and ethereum got to over $2500 at the time.

now speculators are simply aiming for the approval of Ethereum ETFs, since they managed to get the Bitcoin ones approved, these are next on the list, of course

We should not expect ethereum for now, there will not be anything like that for some time. It will take time before United States SEC will approve it.

[trendcoin]

The recent approval of the Bitcoin ETF by the SEC has had a positive impact on all altcoins, including Ethereum. This has led some to speculate that an Ethereum ETF approval might also be on the horizon. In the coming days, the SEC may receive significant applications seeking approval for an Ethereum ETF. For me, both Bitcoin and Ethereum are solid currencies, and I believe we can expect more positive news in the future.

[babo]

I believe that Ethereums rise is partly due to bitcoin and ETFs

Yes, ethereum rose in price because bitcoin rose in price. Not only ethereum but also other altcoins. But ether also increased in price when the news of blackrock applying for ethereum spot ETF or so. It was a big jump within a day and ethereum got to over $2500 at the time.

now speculators are simply aiming for the approval of Ethereum ETFs, since they managed to get the Bitcoin ones approved, these are next on the list, of course

We should not expect ethereum for now, there will not be anything like that for some time. It will take time before United States SEC will approve it.

Exactly what I said, I didn't say we will have an ETF on Ethereum soon, I said the next ETF will be on Ethereum
It's very different and you made me say things I didn't say
However, the fact that Blackrock is preparing an ETF on Ethereum makes you understand that it will take time, but not as much time as we expect, neither too much nor too little so buying ETH to hold it for the moment is a good investment