Price Surge Not Happening
Ethereum’s price hasn’t jumped despite the SEC approving spot Ethereum ETFs. This is surprising because it was expected to cause a big price increase.
Reasons for Lack of Rally
- News Already Priced In: The price may have already reflected the news of potential approval.
- Profit-Taking: Traders may be selling their ETH investments to take profits after the recent rally.
- Delayed ETF Trading: The ETFs haven’t started trading yet, so the price hasn’t reacted positively.
Historical Precedent
Bitcoin’s price dropped after the approval of spot Bitcoin ETFs. This could be a similar situation for Ethereum.
Positive Signs
- Recent Price Increase: ETH has risen over 28% in the past week.
- SEC Doesn’t Consider ETH a Security: The ETF approval suggests that the SEC doesn’t view ETH as a security, which is bullish for the token.
Conclusion
The price of Ethereum may rally further once the ETFs start trading. The approval of the ETFs is a positive sign for the token, indicating that the SEC doesn’t consider it a security.
