Ethereum

Bitcoin

April

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Prediction markets reveal only a 7% chance that the SEC will approve Ethereum ETFs this week.</li> 
 <li>April Reuters reports also revealed that the US SEC is expected to deny the crypto products.</li> 
</ul> 
<p>According to the latest reports coming from <a href="https://x.com/realMatrixport/status/1792503677451899205" rel="nofollow" target="_blank">Matrixport</a>, which cite prediction markets, there is only a 7% chance that the US SEC will approve the<a href="https://crypto.ro/en/news/blackrock-creates-new-100m-tokenized-asset-fund-using-ethereum/"> Ethereum</a> ETFs this week.</p> 
<p>The notes reveal that the derivatives markets are expecting an approximate 4.8% move in ETH by the end of the week.</p> 
<p>Historically, ETH volume has traded 30% on average, more than the BTC volume, but recently Ethereum has been even lower, despite normally being a higher beta asset. This has not been the case since this bull market started, notes Matrixport.</p> 
<p>ETH volume appears cheap relative to the Bitcoin volume.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://x.com/realMatrixport/status/1792503677451899205/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GOA_gqJb0AAUemN?format=jpg&amp;name=medium" alt="ETH/BTC" width="1080" height="646" title="SEC's Approval Of Ethereum ETFs Has A 7% Chance 8"></a>
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<p>Back in April, reports from the&nbsp;Reuters press agency<a href="https://crypto.ro/en/news/us-sec-expected-to-deny-ethereum-etfs-in-may-insiders-claim/"> revealed</a> that the US SEC could deny the spot Ethereum exchange-traded funds this month, citing sources familiar with the matter.</p> 
<h2 id="sec-to-deliver-its-decision-this-week">SEC to deliver its decision this week</h2> 
<p>US issuers and other firms were expecting to see the Securities and Exchange Commission denying their applications after some discouraging meetings with the regulatory agency.</p> 
<p>VanEck, ARK Investment, and seven other issuers have previously filed with the SEC to list ETFs that would track the spot price of Ethereum.</p> 
<p>The SEC has to decide on VanEck’s and ARK’s filings, which are the first in line, according to the same reports, by May 23 and May 24, respectively.</p> 
<p>Last month, Reuters reported that the meetings between issuers and the regulator have been only one-sided, and the staff of the agency had not discussed important details about the proposed products.</p> 
<p>Such a discussion landscape about ETH ETFs was different compared to the more intense and detailed talks that took place between the issuers of <a href="https://crypto.ro/en/news/bitcoin-etf-filings-q1-recap-reveals-short-term-traders-and-diverse-investors-love-this-hot-sauce-investment/">Bitcoin ETFs</a> and the SEC during the weeks before the SEC decided to approve the crypto products at the beginning of the year.</p> 
<p>Also last week, <a href="https://www.cnbc.com/2024/05/18/crypto-fraud-and-poor-regulation-may-jeopardize-ether-etf-approval.html" rel="nofollow noopener" target="_blank">CNBC</a> noted that the SEC could delay the decision on ETH ETFs due to a lack of an over-arching regulatory framework for all cryptocurrencies, according to Ric Edelman, head of the Digital Assets Council of Financial Professionals.</p> 
<p>He told CNBC’s ETF Edge that a potential delay is not such bad news.</p> 
<p>If the SEC declines the approval of ETH ETFs in the US, this would mean a drawback for the crypto industry in the country, and in the overall crypto world race, especially since Ethereum ETFs have been trading in Asian markets since last month.</p> 
<p>Hong Kong <a href="https://crypto.ro/en/news/hong-kong-approves-bitcoin-ethereum-etfs/">approved</a> the first batch of Bitcoin and <a href="https://crypto.ro/en/news/explore-the-mystery-unveiling-the-ethereum-eth-burn-address/">Ethereum</a> ETFs which started trading on April 30.</p> 
<p>Regarding the price of Ethereum today, at the moment of writing this article, ETH is trading just a little above $3,000.</p> 
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<p>However, the coin is up by more than 4% in the past seven days, according to <a href="https://coinmarketcap.com/currencies/ethereum/" rel="nofollow noopener" target="_blank">CoinMarketCap.&nbsp;</a></p>

SEC’s Approval Of Ethereum ETFs Has A 7% Chance

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