Spot Ethereum ETF: SEC delays BlackRock application; ETH price stays dormant
• The SEC delayed yet another spot Ethereum ETF application, this time from BlackRock.
• Earlier last week, Fidelity experienced a similar outcome, and so will the rest of the applicants until May 23, the next crucial date.
• Ethereum price is presently not responsive to these delays as they are likely already priced in, given SEC’s history with the spot Bitcoin ETFs.
After Bitcoin, the spotlight is now gradually shifting to Ethereum as the altcoin is witnessing multiple spot ETF filings to its name, including the likes of BlackRock. There is a chance that history might repeat itself in the case of ETH ETF approval since it is already repeating with regards to the process, i.e., delay in decision from the SEC.
SEC delays another approval
The Securities and Exchange Commission (SEC), in a filing on Wednesday, delayed its decision on the spot Ethereum exchange-traded fund (ETF) filing from BlackRock. The world’s largest asset manager is among a couple of applicants who have already begun vying for approval from the SEC for their spot in ETH ETFs.
The race began even before the regulatory body green-lit the spot Bitcoin ETFs and is likely going to follow the same journey BTC ETFs did. This means that since the precedent for spot ETFs has already been set after the court-mandated approval during the Grayscale vs. SEC lawsuit, the regulator will have to provide their approval for Ethereum-based spot funds as well.
However, imitating the journey would also include multiple delays and the need to rework the application, as witnessed by Bitcoin ETF applicants. BlackRock underwent a lengthy process of updating their filing as the SEC would not be satisfied until they finally managed to get it right per their rulebook.
The same events will occur over the next few weeks until at least May 23, 2024, which is most likely set to be the final deadline for VanEck’s spot Ethereum ETF decision. Since SEC will certainly defy the first mover advantage to Fidelity akin BTC ETFs, either all the spot ETH ETFs will be approved on May 23 or pushed to another date.
Regardless, the final decision is still a couple of weeks away, and it seems like Ethereum has already prepared itself for the journey.
@cryptoopdate
• The SEC delayed yet another spot Ethereum ETF application, this time from BlackRock.
• Earlier last week, Fidelity experienced a similar outcome, and so will the rest of the applicants until May 23, the next crucial date.
• Ethereum price is presently not responsive to these delays as they are likely already priced in, given SEC’s history with the spot Bitcoin ETFs.
After Bitcoin, the spotlight is now gradually shifting to Ethereum as the altcoin is witnessing multiple spot ETF filings to its name, including the likes of BlackRock. There is a chance that history might repeat itself in the case of ETH ETF approval since it is already repeating with regards to the process, i.e., delay in decision from the SEC.
SEC delays another approval
The Securities and Exchange Commission (SEC), in a filing on Wednesday, delayed its decision on the spot Ethereum exchange-traded fund (ETF) filing from BlackRock. The world’s largest asset manager is among a couple of applicants who have already begun vying for approval from the SEC for their spot in ETH ETFs.
The race began even before the regulatory body green-lit the spot Bitcoin ETFs and is likely going to follow the same journey BTC ETFs did. This means that since the precedent for spot ETFs has already been set after the court-mandated approval during the Grayscale vs. SEC lawsuit, the regulator will have to provide their approval for Ethereum-based spot funds as well.
However, imitating the journey would also include multiple delays and the need to rework the application, as witnessed by Bitcoin ETF applicants. BlackRock underwent a lengthy process of updating their filing as the SEC would not be satisfied until they finally managed to get it right per their rulebook.
The same events will occur over the next few weeks until at least May 23, 2024, which is most likely set to be the final deadline for VanEck’s spot Ethereum ETF decision. Since SEC will certainly defy the first mover advantage to Fidelity akin BTC ETFs, either all the spot ETH ETFs will be approved on May 23 or pushed to another date.
Regardless, the final decision is still a couple of weeks away, and it seems like Ethereum has already prepared itself for the journey.
@cryptoopdate
SEC files reply backing its motion to compel against Ripple; XRP price rebounds from Aug 2023 low
• XRP price at the time of writing is at a three-month low, with the RSI sitting in the oversold zone for the first time since August 2023.
• Ripple and the SEC are continuing their battle, with the latter filing a reply in support of its motion to compel.
• The potential of a reversal is looking a little weak, and further bearishness could pull XRP below $0.500.
The Securities and Exchange Commission (SEC) is attempting to flip one of its biggest losses into some semblance of a victory. This is evident by the most recent filing from the regulatory body against Ripple seeking court intervention over undisclosed document requests. XRP price, on the other hand, is trending in an unfavorable direction.
SEC goes after Ripple again
The SEC filed a reply in further support of its motion to compel against Ripple on Tuesday in the court.
@cryptoopdate
• XRP price at the time of writing is at a three-month low, with the RSI sitting in the oversold zone for the first time since August 2023.
• Ripple and the SEC are continuing their battle, with the latter filing a reply in support of its motion to compel.
• The potential of a reversal is looking a little weak, and further bearishness could pull XRP below $0.500.
The Securities and Exchange Commission (SEC) is attempting to flip one of its biggest losses into some semblance of a victory. This is evident by the most recent filing from the regulatory body against Ripple seeking court intervention over undisclosed document requests. XRP price, on the other hand, is trending in an unfavorable direction.
SEC goes after Ripple again
The SEC filed a reply in further support of its motion to compel against Ripple on Tuesday in the court.
@cryptoopdate
Defi Signal
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Buy: GTAI token
Pair: GTAI/BNB
GTAI/USDT
Contract Address: 0x003d87d02A2A01E9E8a20f507C83E15DD83A33d1
Network: #BSC
Target: 100% to %150
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#Chz
Breaking Out While Decent Volume Coming We Only Needs Successful Breakout For Massive Bullish Rally✍️
Preparing For Solid Recovery Towards 0.50$
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Preparing For Solid Recovery Towards 0.50$
#Luna
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Consolidating In Descending Channel In H4 Timeframe Incase Of Breakout Expecting 50-55% Bullish Rally ✍️
XRP spot ETF will only come after a futures investment product like its Bitcoin counterpart
• Following spot BTC ETF approvals, expectation for an Ether and XRP ETF have grown.
• Market watchers says an XRP futures ETF would be key in paving way for a spot XRP ETF.
• Gemini exchange relisted XRP after it was appointed custodian for VanEck’s spot Bitcoin ETF
With memories of the landmark spot Bitcoin exchange-traded funds (ETFs) still fresh in the mind, cryptocurrency markets are already considering the possibility of an Ethereum and XRP spot ETF.
Spot XRP ETF hinges on futures investment counterpart
As chatter about an XRP spot ETF continues, Fox Business’s Eleanor Terrett says an XRP futures ETF must come, akin to how it played out in the spot Bitcoin ETF situation.
Reportedly, before the US Securities and Exchange Commission (SEC) approved the Bitcoin spot ETFs, it had concluded that the CME bitcoin futures market would suffice to provide surveillance for fraud and manipulation.
• Following spot BTC ETF approvals, expectation for an Ether and XRP ETF have grown.
• Market watchers says an XRP futures ETF would be key in paving way for a spot XRP ETF.
• Gemini exchange relisted XRP after it was appointed custodian for VanEck’s spot Bitcoin ETF
With memories of the landmark spot Bitcoin exchange-traded funds (ETFs) still fresh in the mind, cryptocurrency markets are already considering the possibility of an Ethereum and XRP spot ETF.
Spot XRP ETF hinges on futures investment counterpart
As chatter about an XRP spot ETF continues, Fox Business’s Eleanor Terrett says an XRP futures ETF must come, akin to how it played out in the spot Bitcoin ETF situation.
Reportedly, before the US Securities and Exchange Commission (SEC) approved the Bitcoin spot ETFs, it had concluded that the CME bitcoin futures market would suffice to provide surveillance for fraud and manipulation.
#Sol
Moving As Expected & Breaking Descending Channel As We Know Trend Is Up And Strong & Breaking Consolidation Too Successful Breakout Can Lead Massive Bullish Rally Towards 150$✍️
Moving As Expected & Breaking Descending Channel As We Know Trend Is Up And Strong & Breaking Consolidation Too Successful Breakout Can Lead Massive Bullish Rally Towards 150$✍️
Defi Signal
Buy: MEMEAI token
Pair: MEMEAI/BNB
MEMEAI/USDT
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Network: #BSC
Target: 1000% to %2000
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Poocoin.app
Wallet: Trustwallet
Buy: MEMEAI token
Pair: MEMEAI/BNB
MEMEAI/USDT
Contract Address: 0x5c2e48ed31d3d902c92070f59b8da3de54a0fe44
Network: #BSC
Target: 1000% to %2000
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#Bnb
Trend Is Up & Consolidating In Bullish Flag Incase Of Breakout Expecting Massive Bullish Rally Towards 400$✍️
#Bnb
Trend Is Up & Consolidating In Bullish Flag Incase Of Breakout Expecting Massive Bullish Rally Towards 400$✍️
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You will get liquidated so fast
Remember the whales are watching
Get some good info, strategy and analysis about the market from @xrplhq
Enjoy your week.
Let’s print those millions this week.
Everything is possible ❤️
#Ada
Breaking Falling Wedge In 8 Hour Tf With Strong Volume Incase Of Successful Breakout Expecting Massive Bullish Rally Towards 0.82-0.85$✍️
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ALT Signal
Buy: AFG token
Pair: AFG/ARB
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Buy: AFG token
Pair: AFG/ARB
AFG/USDT
Contract Address: 0x619C82392cb6E41778b7d088860Fea8447941f4c
Network: #ARB
Target: 100% to %300
Will be listed on bybit soon
Exchange: Dexview.com
Pancakeswap.finance
Dextool.io
Dexscreener.com
Poocoin.app
Wallet: Trustwallet
Signal from Pro @xrplhq