Another historic moment in the crypto world
Congratulations, the Ethereum spot ETF has finally been approved. Another historic moment!
Just across the Atlantic Ocean, in the United States, at the early morning of May 24th, Beijing time, the U.S. Securities and Exchange Commission approved multiple Ethereum spot ETFs! The BTC spot ETF has been approved. It should be clarified that this time it is a 19b-4 form, and it will be officially listed after passing the S-1. The U.S. Securities and Exchange Commission (SEC) approved the 19b-4 forms of multiple spot Ethereum ETFs, including ETFs from BlackRock, Fidelity, and Grayscale.
Although the forms have been approved, ETF issuers need to wait until their S-1 registration statement becomes effective before they can begin trading. The SEC has only recently begun conversations with issuers about their S-1 forms, and it is unclear how long the process will take. Analyst James Seyffart said: "I think if they work really hard, it could be done in a few weeks, but there are many examples in history where this process has taken more than three months.
This is a landmark move for cryptocurrencies. It is the second biggest victory for cryptocurrencies this year after the approval of the BTC ETF in January. The price of ETH has risen by more than 5% from the lowest price of the day. Many Wall Street analysts believe that with the approval of the Ethereum ETF, Ethereum is expected to reach $10,000 per coin this year.
Grayscale, BlackRock, Wood Sister, Invesco, etc. all passed! Thank you for accompanying us through this historic moment. We have too many expectations and too many disappointments, but we have also witnessed an epic event in the blockchain field. When the prices of#BTCand#ETHbreak through the sky, we can pat our chests and tell others that we are witnesses! We have witnessed the beginning of this era!
Of course, after the#Bitcoinspot ETF, finally a second cryptocurrency passed 19b-4. Although it does not mean that the#ETHspot ETF has been approved, in theory it is only a matter of time before it is approved. Congratulations to #Ethereum. Next, we will wait for the S-1/S-3 approval.
But this is only the approval of 19b-4, and there is no clear statement on S-1/S-3S. At present, the front end of the SEC has not been updated, but it has been seen on the back end, so 19b-4 has definitely been passed, but this does not mean that#ETHspot ETF can be listed, because S-1/S-3 is still required. In this regard, Technician No. 6 believes that there is no need to wait, because if 19b-4 has passed, it means that ETH spot ETF has definitely passed, and it will be listed sooner or later.
BlackRock has completed two of its trilogy in #Crypto.
The first step: Bitcoin ETF
Step 2: Ethereum ETF
The third step is to tokenize traditional financial assets, RWA
On May 24, 2024, we are all witnessing history!
Technician No. 6 believes: Congratulations to everyone for once again witnessing the history of encryption, and also witnessing the process of the leading coins Bitcoin and Ethereum from decentralization to centralization. With the US SEC officially approving the Ethereum ETF, the pressure is on Bitcoin. It is no longer the only cryptocurrency ETF approved by the SEC. Will funds be diverted? Everyone generally believes that ETH will rise higher than Bitcoin in the future, and will be more inclined to buy Ethereum rather than Bitcoin. But I still think that Bitcoin is a stored-value currency and the basis of all value, and it should grow more. After that, will other cryptocurrency ETFs be applied for and approved one after another? #以太坊ETF批准预期 #山寨币热点 #ETH #ETH $ETH $SOL
