ethereum etf approved just now

[MrSpasybo]

And the effect, look at how the market is now. especially the price of Ethereum. The effect of the Ethereum ETF approval is truly great. At least for the time being, this is very good for the upward progress in the market. Even if you look at the graph of Ethereum itself, it is very significant. Currently, the price of ETH is at $3,740. Even though it is currently experiencing a decline, at least, it is much better than it was a few days ago.

The news about the ETH Spot ETF a few days ago really quickly pushed the price of ETH to the $3.8K zone, and for the time being we are witnessing a sideways movement of the ETH price as investors no longer have good news to continue to expect while many other investors want to take profits. It is possible that the approval of the ETH Spot ETF has become a sell-the-news event in the short term, until investors can officially buy the ETH Spot ETF and create enough buying pressure to push the ETH price to a new ATH as happened with the BTC Spot ETF.

To me, the ETH Spot ETF could become the basis for many Spot ETFs based on many other tokens such as XRP or SOL that could be approved in the future, and could also indirectly protect POS tokens future. In the next few months, the ETH Spot ETF could be an important driver for the crypto market to exit the accumulation phase and move deeper into the bullrun and altseason.

[bitterguy28]

The ETH ETF approval was quite faster than that of the Bitcoin. It was just a speculation when I first heard about it, but the approval has finally been done. ETH is certainly going to the moon after this. A possible incoming bull run for ETH and other alt.

indeed , what i was expecting is that Ethereum ETF will take long at least till next year because of our experience towards how bitcoin ETF struggles to reach the approval but nope, that is far from what happened in Ethereum
but yet nothing change in the price movement staying at below 4k and struggling to break that barricade so the price may move on .

[pmbug]

ETH price moved from USD ~$3000 to USD $3800 when the approval news broke.  The ETH ETFs are not yet actively trading.  The applications are moving through the approval process.  When they actually begin trading, ETH will start seeing upwards price pressure.

[Faisal2202]

Yeah that's good news for all of us, and especially for those who have been accumulating ETH for a long time, as writing of this post ETH has already been approved and the price increment can be seen after the approval. People who bought ETH before 1 or 2 days the decision day are also in profit by now due to the heavy pump in its price. ETFs play an important role in the adoption rate, now people will spend more and more money on ETH. I am talking about those traditional people who prefer to invest in ETFs.

They first will be investing in BTC ETFs but now to diversify their investments and to minimize the risk of losing funds if invested all in BTC, they will go in ETH ETFs as well. It will definitely going to increase the demand for ETH but the demand and supply ratio has to be high, I mean we don't know the exact supply of ETH it keeps coming so I doubt the scarcity factor here.

[PX-Z]

People who bought ETH before 1 or 2 days the decision day are also in profit by now due to the heavy pump in its price.

I can't say it as a "heavy pump" when it didn't reach 4k and reach new ATH again even with this kind of news. But no doubt this is a good news and good development for the long run.

[pmbug]

Bold is mine:

BlackRock filed an amended S-1 form for its proposed spot ether (ETH) exchange-traded fund (ETF) that revealed more information about the product that was recently approved for listing in the U.S.
...
Subject to regulatory approval, assets held in the ETF can be redeemed for cash or even ether. The iShares Ethereum Trust ether ETF will list and trade under “ETHA.”

Bloomberg analyst Eric Balchunas called the updated S-1 a “good sign,” adding that a launch by the end of June was “a legit possibility.”
...

https://www.coindesk.com/markets/2024/05/30/blackrock-amends-ethereum-etf-application-bloombergs-balchunas-sees-etf-going-live-by-june/

[Vx1]

People who bought ETH before 1 or 2 days the decision day are also in profit by now due to the heavy pump in its price.

I can't say it as a "heavy pump" when it didn't reach 4k and reach new ATH again even with this kind of news. But no doubt this is a good news and good development for the long run.

Maybe it's still a matter of time before the Ethereum price will pump higher, maybe it will coincide with bullishness later.  I myself already hold Ethereum, if you count it up to now I have made a profit but I haven't sold it yet. 
While raising more capital to buy other coins from Ethereum layer 2, and looking for some meme coins from the Ethereum Blockchain.

[JoyMarsha]

Everyone's mind is for the  Ethereum ETF approval to have a mark of the ethereum price. However, let's see how far it will touch the moon during the bull run, whether it will likely see a price close to $10k as some people have imagined

Ethereum ETF approval is a long-anticipated thing, and I have longed for ethereum to have. I am excited it got approved. I am looking forward to when its gas fees are reduced soon enough 

[NikeFit_7777]

U.S. SEC Chairman Gary Gensler first commented on the Ethereum-ETF following the tool's approval, saying that the processing of applications will last “for some time.” Gensler also said that cryptocurrency exchanges “are allowing themselves to do things that the NYSE or other regulated exchanges are prohibited by law from doing.”

P.S. Don't forget the SEC is big on manipulating news. I wouldn't be surprised if in time it turns out that someone from their team was engaged in insider trading. 

[pmbug]

...
Ethereum ETF issuers submitted their amended S-1 registration statements with the SEC on Friday after the agency gave "light" comments on them last week.

The total filings are from VanEck (0.20% fee), Fidelity (seed investment of $4.7 million), BlackRock ($10 million seed investment), Franklin Templeton (0.19% fee), Grayscale, Invesco and 21Shares. This comes after Bitwise filed its S-1 draft and launched an Ethereum ad earlier in the week.

While BlackRock has yet to disclose its fees for the spot Ethereum ETF, Bloomberg analyst Eric Balchunas noted that what it will charge is the most important missing variable outside of the exact launch date. "Their fee is the sun that the rest will need to orbit around. Must be nice," he said.

According to Balchunas, after issuers filed their amended S-1s today, the SEC will "let issuers know about any final changes and effectiveness (aka final approval)." He maintained his predictions with July 2 as over/under for the ETFs to launch.
...

https://www.fxstreet.com/cryptocurrencies/news/fidelity-submits-amended-ethereum-etf-draft-others-expected-to-pour-in-soon-202406211744

Roughly a week and half before the ETH ETFs begin trading (most likely).

[koang]

U.S. SEC Chairman Gary Gensler first commented on the Ethereum-ETF following the tool's approval, saying that the processing of applications will last “for some time.” Gensler also said that cryptocurrency exchanges “are allowing themselves to do things that the NYSE or other regulated exchanges are prohibited by law from doing.”

P.S. Don't forget the SEC is big on manipulating news. I wouldn't be surprised if in time it turns out that someone from their team was engaged in insider trading. 

I suddenly wondered who or what group would be the biggest beneficiaries of this panic selling.
The main culprits and accomplices of this panic selling will use the Ethereum and altcoin squeeze as a good opportunity, and that's how it works.
However, people who sell just need to shut up and sell and get out, and people who hold just need to shut up and hold on strong.

[alltalk]

I suddenly wondered who or what group would be the biggest beneficiaries of this panic selling.
The main culprits and accomplices of this panic selling will use the Ethereum and altcoin squeeze as a good opportunity, and that's how it works.

We don't know which group but it should be whales group. 
The good news of Ethereum ETF approval should be great sign for future Ethereum. It is actually too bad if there are many people to sell their Ethereum in panic. I even keep buying Ethereum now because it dropped below $3500. I bought ETH at $3400, I will buy again if the price dropped to $3300. This should be the time for buying, it is not the time for selling.

[koang]

I suddenly wondered who or what group would be the biggest beneficiaries of this panic selling.
The main culprits and accomplices of this panic selling will use the Ethereum and altcoin squeeze as a good opportunity, and that's how it works.

We don't know which group but it should be whales group. 
The good news of Ethereum ETF approval should be great sign for future Ethereum. It is actually too bad if there are many people to sell their Ethereum in panic. I even keep buying Ethereum now because it dropped below $3500. I bought ETH at $3400, I will buy again if the price dropped to $3300. This should be the time for buying, it is not the time for selling.

Let the weak hands sell and get out, crypto is only for those who believe and dare

Crypto is having a tough time lately with altcoins bleeding and I think we now need a much slower approach to the market.
But I stick to a bullish thesis for 2024 and Trading for ETF ETH starting the first half of July, given the current market state, this could be quite a positive catalyst to spark a run.
And Eth might intensify over the next months.

[vegasus]

Let the weak hands sell and get out, crypto is only for those who believe and dare

Crypto is having a tough time lately with altcoins bleeding and I think we now need a much slower approach to the market.
But I stick to a bullish thesis for 2024 and Trading for ETF ETH starting the first half of July, given the current market state, this could be quite a positive catalyst to spark a run.
And Eth might intensify over the next months.

Haha, keep cheering up okay!

Because crypto is always full of surprises. Indeed, it often changes direction when there is news that is quite heavy. But apart from that, for those who already understand things like that, it doesn't seem to be a problem.

In fact, for Ethereum itself, ETH and BTC, we know how they are criticized, because even after the ETF of these two coins was approved, in fact they haven't shown any really positive effects, right> Tai, that's what it is. Indeed, the market is currently like that. So, yeah, there's no need to worry. At least, ETFs are good news and this could support a bullish era in the future. So, just enjoy the process, a process where the market will still go up and down with high volatility as usual. However. still chill, but wise in every step. Just follow the flow of this market, but still gain profits from all market conditions.

[UNIVERSE]

Maybe it's still a matter of time before the Ethereum price will pump higher, maybe it will coincide with bullishness later.  I myself already hold Ethereum, if you count it up to now I have made a profit but I haven't sold it yet. 
While raising more capital to buy other coins from Ethereum layer 2, and looking for some meme coins from the Ethereum Blockchain.

Yes, it may need time to increase the price significantly. People who expect the new ATH of Ethereum after Ethereum ETF is accepted, they must be more patient because it needs a process. I believe there will be massive pumps in Ethereum price but it won't suddenly be pumped now. We must be aware of the current market situation, even the price of Bitcoin is hard to increase now. So, it is normal if Ethereum price still can't increase very high in the near future.