Ethereum

Bitcoin ETF

James

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-etf-hopes-face-setback-as-approval-seems-unlikely" rel="noopener noreferrer nofollow">Ethereum ETF Hopes Face Setback as Approval Seems Unlikely</a><br></p>
<p style="text-align: justify">Investors holding their breath for the green light on an <a href="https://en.bitcoinhaber.net/technical-analysis-for-ethereum-important-support-and-resistance-levels-2" rel="noopener noreferrer nofollow">Ethereum</a> ETF may have to temper their expectations. Despite Ethereum’s price ascent beyond $4,000, recent insights from a Bloomberg ETF expert cast a shadow of doubt over an imminent rally. This cautionary stance stems from a lack of discourse between the SEC and Ethereum ETF applicants, a stark contrast to the proactive engagements witnessed prior to previous ETF endorsements.</p>
<h2 id="sec-stance-on-ethereum-etfs">SEC Stance on Ethereum ETFs</h2>
<p style="text-align: justify">Bloomberg analyst James posits that a favorable ruling on the Ethereum ETF, slated for decision on May 23, is unlikely. The industry had witnessed a more optimistic scenario for <a href="https://en.bitcoinhaber.net/bitcoin-soars-past-70000-analysts-anticipate-potential-market-retracement" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs, where analysts Eric and James once gave a 90% approval probability due to evident regulatory progress. However, Ethereum’s path seems fraught, with anticipated announcements of postponements for several ETF proposals including those from VanEck and Ark/21Shares.</p>
<p style="text-align: justify">The analyst’s revised outlook signals a definitive rejection rather than delay, based on the SEC’s silence on the matter. The proactive communication that prefaced Bitcoin ETF approvals is absent, suggesting a dimmer forecast for Ethereum-centric funds.</p>
<h2 id="market-impact-and-ethereum-s-trajectory">Market Impact and Ethereum’s Trajectory</h2>
<p style="text-align: justify">Ethereum’s significant network upgrade, dubbed ‘Dencun’, succeeded in reducing transaction fees and heralded a period of negative inflation alongside robust staking interest yielding 4% returns. This was hoped to curb exchange supply and bolster prices. However, the ETF skepticism could inject negativity into the market, potentially pushing investors towards assets with more immediate profit potential.</p>
<p style="text-align: justify">With selling pressure looming, Ethereum’s price struggle is palpable, sliding from the $4,000 benchmark down to $3,202, and currently hovering below $3,300. The market now faces a critical junction, watching closely as regulatory and investor sentiments unfold.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-etf-hopes-face-setback-as-approval-seems-unlikely" rel="noopener noreferrer nofollow">Ethereum ETF Hopes Face Setback as Approval Seems Unlikely</a></h5>

Ethereum ETF Hopes Face Setback as Approval Seems Unlikely

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