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Ether ETF Approved, So Why Aren't We Rich Yet?
There may be two main reasons why the price of Ethereum (ETH) has barely moved despite the historic approval of Ethereum spot trading funds (ETFs) in the US.
On May 23, the SEC approved the listing of eight Ethereum ETFs on their respective exchanges. Ethereum fell 3.4% just before the news, rebounded about 5% shortly after, and is currently trading at $3,806.
Crypto commentator Zach Raines says the lack of movement reflects the idea that “everyone who wanted to buy approval has already done so.”
