In the crypto markets, after the approval of BTC ETFs, Ethereum was expected to remain in the spotlight. However, due to excessive selling and demolished market sentiment, the anticipated significant pricing did not occur. No one could have predicted that the SEC would take such a hostile approach as to delete the official announcement and manipulate the markets.
Spot ETH ETF
The SEC took major steps to break the positive atmosphere in the markets. We have experienced many things including the hacking of the account, deletion of the official announcement, and after the approval announcement on the website was removed, Gensler writing nonsensical statements such as not approving BTC and crypto but approving ETFs.
Today, the SEC announced that it has postponed its decision on the request to convert Grayscale’s ETHE Trust into a spot ETH ETF. This application, like the one for GBTC, would allow the existing product to be converted into an ETF and traded on the exchange.
