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Rumor: US will reject spot Ethereum ETF next month
Rumors surface that the United States will reject spot Ethereum exchange-traded funds next month.
This information has not yet been confirmed by any official but the rumor has some credibility due to there being no positive signals from the SEC regarding the approval of an Ethereum ETF.
The impact of ETFs on cryptocurrencies could be significant. Bitcoin ETFs – which allow institutional investors to gain exposure to Bitcoin without the hassles of direct ownership – have amassed net inflows of about $12.1 billion in just four months of launch.
However, the dynamics of Ethereum are different from Bitcoin. Ethereum does not have the same attractiveness as Bitcoin (considered as a store of value) in the eyes of institutional investors. As a result, many speculate that the Ethereum ETF may not generate the same wave of investment enthusiasm as the Bitcoin ETF, due to Ethereum's distinct use cases and investor base, much like stocks. more traditional.
ETH price has experienced a significant pullback as FOMO ETF traders began selling their shares following rumored rejections and are struggling below key levels.
If the Ethereum ETF is indeed ultimately rejected, the market could enter a broader correction. However, because Ethreum focuses on decentralized finance and applications, the long-term impact of the ETF on the network is not appreciated. The main drivers for Ethereum remain fees from dApp usage, overall growth of the cryptocurrency market, and technological advancements.
