Skepticism Grows
As the May deadline for Ethereum Spot Exchange-Traded Funds (ETFs) approaches, skepticism is growing. Nate Geraci, president of ETF Store, believes the SEC is unusually quiet about the ETFs and suggests they may not be approved due to less engagement with issuers.
Behind-the-Scenes Activity?
Some speculate that discussions may be happening behind closed doors to avoid disrupting the market. However, Van Eck CEO Jan Van Eck is pessimistic, predicting rejection of the ETFs in May.
ETH Price Rebounds
Despite the ETF uncertainty, ETH has seen a positive uptick, rising back above $3,000. The price has increased by over 4% today, reaching around $3,234. This suggests potential for further recovery.
Market Impact
Investors are preparing for an unpredictable outcome, adjusting their investment plans accordingly. The recent Bitcoin Halving could also impact ETH’s price in the coming months.
