Ethereum

Bitcoin ETF

Bitcoin

when

Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surpasses-69000-and-ethereum-solidifies-at-3800/" data-wpel-link="internal">Bitcoin Price Surpasses $69,000 and Ethereum Solidifies at $3,800</a> 
BTC price surpassed $69,000 again, and the king of altcoins, ETH, solidifies at the $3,800 region. Recent <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> has been positive both on the macroeconomic front and from the SEC. So, what are the latest developments regarding the spot ETH ETF? What are the predictions about its impact on the price? Here are the details. 
<h2 style="text-align: justify" id="sec-and-eth-etf-directive">SEC and ETH ETF Directive</h2> 
Initial approvals were given, and now all doubts about the spot ETH ETF have been cleared. Before the approval week, people gave a 13-25% chance for ETF approval for a long time. However, the SEC’s stance suddenly changed, catching most <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> off guard. We even saw popular figures closing their short positions and taking contrary positions on the day of the approval. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-357843 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ETHUSDT_2024-05-30_22-27-18.png" alt="" width="1203" height="554"> 
However, the SEC did not make a second big surprise in a row and approved the ETFs as expected. In the spot Bitcoin ETF approval, S-1 Form approvals came one after another. Since the SEC’s 180-degree turn for <a href="https://en.coin-turk.com/good-news-for-ethereum-investors-sec-preparing-to-approve-futures-etf/" data-wpel-link="internal">Ethereum</a> was so rapid, these forms could not be arranged in time. But since the final decision date for the applications made by VanEck and ARK had arrived, the SEC had to announce its approval decision. 
Now, after the 19b-4 forms were approved on May 23, the only remaining step is the enactment of the S-1 forms. The SEC instructed to submit the S-1 applications by Friday. 
<h2 style="text-align: justify" id="spot-bitcoin-etf-first-trading-day">Spot Bitcoin ETF First Trading Day</h2> 
When the SEC gave the first approval, VanEck made a file update. However, this process is not likely to end so quickly. In the BTC ETF discussions, these were talked about for weeks. So, will the ETFs start trading on Monday when the S-1 drafts reach the SEC on Friday? This is very unlikely because it will take at least a few weeks for the SEC to get the exact type of form it wants, having changed its decision only 7 days ago. 
According to analysts, at least 2-3 drafts are being discussed. After the drafts arrive on Friday, the SEC will provide feedback. The following week, ETF issuers will format many details, including the seeding amount, according to the SEC’s requirements. Considering that the final draft calls and adjustments will take 1 week, it is expected that these processes will be completed within 2 or a maximum of 3 weeks, and the ETFs will start trading before the end of June. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surpasses-69000-and-ethereum-solidifies-at-3800/" data-wpel-link="internal">Bitcoin Price Surpasses $69,000 and Ethereum Solidifies at $3,800</a></h5>

Bitcoin Price Surpasses $69,000 and Ethereum Solidifies at $3,800

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