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Eric Balchunas and James Seyffart have raised the likelihood of SEC approval for spot Ethereum ETFs from 25% to 75%.

Experts Raise Their Expectations for Approval of Spot Ethereum ETF by 50%

The U.S. Securities and Exchange Commission (SEC) has requested that exchanges involved in listing and trading shares of spot Ether (ETH) exchange-traded funds (ETFs) accelerate their updates to 19b-4 filings. This move implies a possible change in the regulatory environment for cryptocurrency ETFs, hinting that the SEC may soon start approving these applications. SEC Accelerated The post Spot Ethereum ETF: SEC Pushes Exchanges for Update on 19b-4 Filings appeared first on CoinGape .

Spot Ethereum ETF: SEC Pushes Exchanges for Update on 19b-4 Filings

Ethereum, the second-largest cryptocurrency by market capitalization, is currently poised at a crucial juncture, with a prediction of a potential breakout. Prominent crypto analyst Jelle recently pointed out that Ethereum is nearing the end of a falling wedge pattern, a situation often interpreted as a bullish signal in technical analysis. Related Reading: Is Ethereum Set For A Major Rally? Options Traders Bet Big On $3,600+ Targets For June Technical Indicators And Market Sentiment Jelle observed a falling wedge pattern on Ethereum’s chart, which emerges as ETH recently reclaimed its 100-day Exponential Moving Average (EMA), a development that further bolsters the bullish case. According to Jelle, if Ethereum can sustain this momentum and push past the upper boundary of the wedge, it might set its sights on the $4,000 level, a significant “psychological and technical” threshold. $ETH is close to breaking out from this falling wedge! After reclaiming the 100-day EMA, all it needs is a little push to break out from the multi-month continuation pattern. Target: >$4000. 👀📈 pic.twitter.com/IW5eIQWXzG — Jelle (@CryptoJelleNL) May 20, 2024 The anticipation of this breakout is heightened by the current market dynamics, where Ethereum is trading just above $3,000, specifically trading at price of $3,088, at the time of writing. The asset has experienced a modest increase of 0.2% in the last 24 hours and a total of 4.1% over the past week. However, looking at the price chart, Ethereum appears to have been consolidating just above the $3,000 level, suggesting a building base for future significant movement. This consolidation period, often called accumulation, may be largely due to market participants awaiting the upcoming decision from the US Securities and Exchange Commission (SEC) on the approval of the much-anticipated spot Ethereum ETF. With this critical announcement expected later in the week, buyers and sellers appear to be in a holding pattern, cautiously awaiting the news that will likely determine their next strategic moves. Ethereum Regulatory Decisions And Market Speculation So far, Bloomberg’s Senior ETF Analyst, Eric Balchunas, has expressed a cautious stance concerning the spot Ethereum ETF estimating only a 25% chance that the spot ETF will receive approval. On the other hand, Nate Geraci, President of the ETF Store, has revealed that the process for ETF approval involves several critical steps, including the acceptance of both 19b-4 filings (Exchange Rule Changes) and S-1 registration statements (initial registration forms for new securities). Related Reading: Expert Sets Timeline For When Ethereum Price Will Begin Rally To $10,000 While there is optimism that the 19b-4 filings might be approved, there is less certainty about the S-1s. The SEC’s slow engagement with these filings could indicate a prolonged review period, which might delay the introduction of Ethereum spot ETFs. SEC decision deadline this week on spot eth ETFs… SEC must approve both the 19b-4s (exchange rule changes) & S-1s (registration statements) for ETFs to launch. Technically possible for SEC to approve 19b-4s & then slow play S-1s (esp given reported lack of engagement here). — Nate Geraci (@NateGeraci) May 19, 2024 Featured image from Unsplash, Chart from TradingView

Ethereum Nears Crucial Breakout: Could $4,000 Be The Next Move?

BlockDAG Smashes $28.5M Presale Record, Stealing Spotlight from Ethereum ETF Drama and Explosive Dogecoin Surge Discerning investors are constantly seeking the most promising opportunities in the rapidly changing world of cryptocurrencies. This month, significant developments have occurred with Ethereum and Dogecoin, but it’s BlockDAG that has truly captivated the market

BlockDAG’s $28.5M Presale Shines Amid Ethereum ETF Pullback and Dogecoin Surge

Crypto experts are flocking to invest funds in an exciting new Solana meme coin Sealana (SEAL) as the crypto market rally accelerates on Monday in wake of rising hopes for the SEC to approve spot Ethereum ETFs this week. The post Crypto Experts Invest in New Solana Meme Coin as Crypto Markets Rally – Time to Buy? appeared first on Cryptonews .

Crypto Experts Invest in New Solana Meme Coin as Crypto Markets Rally – Time to Buy?

The two top cryptocurrencies are leading a parade of rising coins today.

Solana, Avalanche Soar as Ethereum Price Tops $3,500

Ethereum (ETH) has surged to new heights on the back of rumours suggesting that the U.S. Securities and Exchange Commission (SEC) may be reconsidering its stance on approving a spot Ethereum exchange-traded fund (ETF). At press time ETH was trading above $3,500 after a 15% surge. This surge in ETH price, coupled with heightened market

ETH explodes on rumours of SEC reconsidering spot Ethereum ETF

According to reports made by some users on X and onchain data, Gala (GALA) may have suffered a $200 million hack attack. In the transaction with a transaction hash value of 0xa6d90abe17d17743a9cecab84bcefb0fd0bbfa0c61bba60fd2f680b0a2f077fe, it appears that 5 billion GALA tokens worth $200 million were transferred to another wallet. Afterwards, it is observed that this wallet swapped Continue Reading: BREAKING: Big Hack Claims on This Altcoin! Hacker Mints $200 Million New Token, Converts It to ETH

BREAKING: Big Hack Claims on This Altcoin! Hacker Mints $200 Million New Token, Converts It to ETH

On May 20, 2024, Bloomberg Intelligence exchange-traded fund (ETF) senior analyst Eric Balchunas informed his 274,000 X followers that he and his colleague James Seyffart had increased their expectations for the approval of a spot-based ethereum ETF. “Update: [James Seyffart] and I are increasing our odds of spot Ether ETF approval to 75% (up from

Analysts Boost Odds for Ethereum ETF Approval to 75% Amid SEC Chatter

Sei’s (SEI) price has experienced a bullish rally after the Sei Foundation announced a proposed upgrade. The news of transitioning to Sei blockchain version 2 has seen the cryptocurrency’s value increase by 10%. This update will introduce a high-performance, parallelized Ethereum Virtual Machine (EVM), allowing the network to work much faster and be compatible with The post Sei (SEI) Price Soars 10% as Foundation Proposes V2 Upgrade appeared first on CoinGape .

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