Ethereum

1inch Network

<p>Despite the&nbsp;approval of Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), the price of Ether (ETH) is not moving hard yet as anticipated. Crypto analysts attribute this muted reaction to factors like the approval being limited to specific filings and potential challenges from SEC commissioners.&nbsp;</p>
<p>Additionally, the approval process itself raises questions about underlying motives and trade-offs. Unraveling these complexities provides insights into Ethereum’s price dynamics.</p>
<h2 class="wp-block-heading" id="strong-why-ethereum-eth-price-is-not-pumping-strong"><strong>Why Ethereum (ETH) Price is Not Pumping</strong></h2>
<p>Zach Rynes, a crypto analyst, offers <a href="https://x.com/lex_node/status/1793761121335218188" target="_blank" rel="noopener noreferrer nofollow">a straightforward explanation</a>: <em>“The real answer why $ETH didn’t move upon ETF approval – Since the SEC’s pivot, everyone who wanted to buy the approval, already did – ETFs haven’t actually launched yet, so net new capital inflow still to come.”</em></p>
<p>His statement suggests that the market had already priced in the ETF approval. Moreover, the actual launch of these products is necessary for fresh capital inflow.</p>
<p>However, Gabriel Shapiro, <a href="https://x.com/lex_node/status/1793761121335218188" target="_blank" rel="noopener noreferrer nofollow">provides</a> a more nuanced perspective. He notes that <em>“only 19b-4s approved, not S-1s”</em> and that <em>“the approval was by division of trading/markets on ‘delegated authority.'”</em> This implies that the approval was limited to specific filings. Furthermore, this filings were granted by a division within the SEC rather than the commissioners themselves.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/top-7-cryptocurrency-unlocks-this-week-dydx-and-1inch-network-inch-lead-the-pack/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Top 7 Cryptocurrency Unlocks This Week: dYdX and 1inch Network (1INCH) Lead The Pack</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-potential-challenges-and-underlying-motives-strong"><strong>Potential Challenges and Underlying Motives&nbsp;</strong></h2>
<p>Moreover, Shapiro raises concerns about the possibility of a commissioner challenging the decision within the next ten days. He states, “also means they are trying to hide the vote b/c it’s political.” This suggestion of political motivations behind the approval process adds further complexity to the situation.</p>
<p><em>“What’s really going on here is a horse trade of something pro-crypto for getting ESG rules in place,”</em> Shapiro speculates, implying a trade-off between crypto-friendly policies and environmental, social, and governance (ESG) regulations. He further elaborates, <em>“the ESG rules need to be put in place before July 1 or Trump can potentially challenge them if he gets elected…”</em></p>
<p>According to the latest data from CoinMarketCap, the price of Ethereum is <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">$3,853.15</a>, reflecting a 1.62% decrease over the last day. This relatively muted ETH price action aligns with the analysts’ observations about the market’s reaction to the ETF approvals.</p>
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<p>The post <a href="https://captainaltcoin.com/heres-why-ethereum-price-is-not-moving-hard-yet-despite-eth-etf-approvals/" rel="noopener noreferrer nofollow">Here’s Why Ethereum Price is ‘Not Moving Hard Yet’ Despite ETH ETF Approvals</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here’s Why Ethereum Price is ‘Not Moving Hard Yet’ Despite ETH ETF Approvals

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