I've been a lot of speculation about Ethereum etf approval however till now there has been no official confirmation about the outcome. Experts are anticipating that we are going to have the approval in place but we should not be believing it unless it is officially out. Security and Exchange Commission has asked exchanges to follow an additional requirement and because of that people are expecting that the approval is highly possible. Because of the market sentiment when the community is expecting the approval for Ethereum ETF, the prices are also up in the market. The Ethereum price has gone up by 25% approximately in the last one day which is probably because of this speculation.
Search type of speculation we have seen when the Bitcoin etf was in process for approval and that also triggered the price for Bitcoin to cross its all-time high. Again now the Bitcoin price is high and it is already above the last bull run's ATH price. ETF approval for Ethereum is going to be another big thing in the market and probably if it happens then we are going to see a significant value rise for Bitcoin and Ethereum both in the market. We should be ready to witness this fantastic move in the market and looking at the market sentiment it is highly possible to see Ethereum ETF going live after approval.
Ethereum is a leading altcoin in the market and this is also quite popular because of its scalable blockchain network. We have seen how Ethereum's price has grown a lot in the last few years and the community is bigger however it is not decentralised and it is also not a security. Security and Exchange Commission has tried to mark it as security in the past but that did not happen which also opens the door of opportunity for Ethereum can be approved for exchange-traded funds.
Once its approved then more retail investors will benefit along with the doors opening for institutional investors. We all know that if institutional money flows into the market then the market will grow and Bitcoin along with ETF ETFs are going to bring a huge amount of money inflow into this market. Overall let's stay hopeful and positive and keep an eye on the update for ethereum ETF approval by the SEC.
Thanks
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