Ethereum

Bitcoin

<ul> 
 <li aria-level="1"><b>Contrasting with the lengthy approval process of Bitcoin ETFs, Ethereum ETFs might see faster regulatory clearance.</b></li> 
 <li aria-level="1"><b>As SEC finalizes Ethereum ETFs, Ethereum shows slight market gains against the broader cryptocurrency market downturn.</b></li> 
</ul>  
<p><span style="font-weight: 400;">Recent <a href="https://x.com/EricBalchunas/status/1801725292404261308">updates</a> suggest a potential early July approval for Ethereum ETFs, as indicated by Bloomberg’s senior analyst Eric Balchunas. Following a positive review by the Securities and Exchange Commission (SEC), Balchunas pinpointed July 2 as a likely start date for these ETFs. This prediction aligns with SEC Chair Gary Gensler’s earlier statement forecasting approvals during the summer.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next… <a href="https://t.co/XJZ8JLwEFF">https://t.co/XJZ8JLwEFF</a></p> 
 <p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1801725292404261308?ref_src=twsrc%5Etfw">June 14, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 id="b-sec-review-and-anticipated-timeline-b"><b>SEC Review and Anticipated Timeline</b></h2> 
<p><span style="font-weight: 400;">Balchunas noted that the SEC’s recent feedback on S-1 filings from ETF issuers was minor and primarily procedural, requesting responses within a week. This swift interaction suggests that the SEC could finalize the </span><a href="https://www.crypto-news-flash.com/ethereum-etf-approval-hype-fades-as-eth-price-struggles-at-3500-dtx-exchange-and-tron-gear-up-for-massive-upside/"><span style="font-weight: 400;">ETFs’ approval</span></a><span style="font-weight: 400;"> just before the July 4 holiday. Such timing could coincide strategically with national celebrations, enhancing the launch’s visibility.</span></p> 
<blockquote>
 <p><em>Note: our previous over/under was July 4th so this isn’t major shift but 1) we startted to feel like it would take longer so this is kinda good news and b) we basically decide the over/under on where are most torn 50-50 on where to bet and July 2nd is that date right now. – said <span style="font-weight: 400;">Balchunas in X</span></em></p>
</blockquote> 
<h2 id="b-comparison-with-bitcoin-etfs-b"><b>Comparison with Bitcoin ETFs</b></h2> 
<p><span style="font-weight: 400;">The </span><a href="https://www.crypto-news-flash.com/ethereum-gains-blackrocks-favor-over-permissioned-blockchains-eth-price-to-rally/"><span style="font-weight: 400;">anticipated</span></a><span style="font-weight: 400;"> rapid approval of Ethereum ETFs contrasts sharply with the lengthy process Bitcoin ETFs underwent. The application process for Bitcoin ETFs began in July 2013 with the Winklevoss twins and concluded only in January 2024, with multiple approvals following extensive regulatory reviews.</span></p> 
<figure id="attachment_727654" aria-describedby="caption-attachment-727654" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-727654" src="https://www.crypto-news-flash.com/wp-content/uploads/2024/06/Bitcoin-ETF-vs.-Ethereum-ETF.webp" alt="Bitcoin ETF vs. Ethereum ETF" width="1470" height="860" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2024/06/Bitcoin-ETF-vs.-Ethereum-ETF.webp 1470w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/Bitcoin-ETF-vs.-Ethereum-ETF-300x176.webp 300w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/Bitcoin-ETF-vs.-Ethereum-ETF-1200x702.webp 1200w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/Bitcoin-ETF-vs.-Ethereum-ETF-768x449.webp 768w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/Bitcoin-ETF-vs.-Ethereum-ETF-150x88.webp 150w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/Bitcoin-ETF-vs.-Ethereum-ETF-450x263.webp 450w" sizes="(max-width: 1470px) 100vw, 1470px">
 <figcaption id="caption-attachment-727654" class="wp-caption-text">
  Bitcoin ETF vs. Ethereum ETF → Source: Reuters
 </figcaption>
</figure> 
<p><span style="font-weight: 400;"> In contrast, Ethereum’s ETF journey appears to be proceeding more swiftly, which could reflect evolving regulatory perspectives or differing market dynamics.</span></p> 
<h2 id="b-market-ethereum-s-performance-b"><b>Market Ethereum’s Performance</b></h2> 
<p><span style="font-weight: 400;">As the approval process for </span><a href="https://www.crypto-news-flash.com/ethereum-etfs-set-to-capture-20-of-bitcoin-etf-investments-heres-why/"><span style="font-weight: 400;">Ethereum ETFs progresses</span></a><span style="font-weight: 400;">, Ethereum has demonstrated a slight increase in value, rising just over 1% recently. This is in contrast to the broader cryptocurrency market, where Bitcoin and several other cryptocurrencies have shown declines. </span></p> 
<figure id="attachment_727662" aria-describedby="caption-attachment-727662" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-727662" src="https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1.webp" alt="ETH-BTC-Santiment-1-2048x693" width="2048" height="693" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1.webp 2048w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1-300x102.webp 300w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1-1200x406.webp 1200w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1-768x260.webp 768w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1-1536x520.webp 1536w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1-150x51.webp 150w, https://www.crypto-news-flash.com/wp-content/uploads/2024/06/ETH-BTC-Santiment-1-2048x693-1-450x152.webp 450w" sizes="(max-width: 2048px) 100vw, 2048px">
 <figcaption id="caption-attachment-727662" class="wp-caption-text">
  Source: Santiment
 </figcaption>
</figure> 
<p><span style="font-weight: 400;">Additionally, recent data indicate significant outflows from Bitcoin ETFs, with a notable $416.1 million exiting on June 13 and 14.</span></p> 
<h3 id="b-investor-sentiment-and-market-indicators-b"><b>Investor Sentiment and Market Indicators</b></h3> 
<p><span style="font-weight: 400;">The market is currently showing mixed signals. While there is a decline in Bitcoin’s value, Ethereum is maintaining a slight upward trend. Social dominance metrics for both Bitcoin and Ethereum are on the rise, according to data from Santiment, though the Relative Strength Index (RSI) for both remains flat, indicating a lack of strong market momentum in either direction.</span></p> 
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Ethereum Gains as Ethereum ETF Approval Nears, Bitcoin ETFs See Outflows

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