EthereumLong
Ethereum ETFs Approved: The Path to New Highs
Dear friends,
reading the situation can be a fun process thus i had informed you to '' Buy the Next Rumor: ETH Mode ON'' Link:
Ethereum ETFs have received SEC approval and are expected to start trading well before November 2024, according to JPMorgan analysts. This landmark event is anticipated to enhance market accessibility and liquidity, potentially driving ETH prices significantly higher. Analysts predict that with these ETFs, Ethereum could surpass the $4,000 mark, driven by increased institutional interest and investor confidence.
Billy Markus' Bold Prediction:
Billy Markus, co-founder of Dogecoin and known as Shibetoshi Nakamoto, predicts Ethereum could reach $100,000. While this forecast has shaken the crypto community, I believe more realistic targets for this cycle are $6,000 and $9,800. This projection is grounded in current market dynamics and technical analysis rather than speculative extremes.
SEC Approval Details:
On May 23, 2024, the SEC approved the sale of spot Ether ETFs, combining proposals from Nasdaq, NYSE, and CBOE exchanges. This follows the SEC's earlier approval of Bitcoin ETFs in January 2024. The approved ETFs include those from Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity, and Franklin, with individual ETF registration statements still pending SEC sign-off.
The SEC's decision emphasized the need for comprehensive surveillance-sharing agreements with the CME to detect and deter fraud and manipulation. Despite not engaging in spot ether market surveillance, the CME's oversight of ether futures contracts provides a high correlation with the spot market, aiding in fraud detection.
Technical Analysis:
Linear Support: Provides a solid foundation, preventing significant downturns.
Massive Breakout: Indicators suggest an impending breakout, bolstered by ETF news.
Historical Analysis: Previous posts and technical patterns support a bullish outlook.
This new era for Ethereum, driven by ETF trading, is poised to bring substantial growth and opportunities for investors.
One Love,
The FXPROFESSOR 💙
reading the situation can be a fun process thus i had informed you to '' Buy the Next Rumor: ETH Mode ON'' Link:
Ethereum ETFs have received SEC approval and are expected to start trading well before November 2024, according to JPMorgan analysts. This landmark event is anticipated to enhance market accessibility and liquidity, potentially driving ETH prices significantly higher. Analysts predict that with these ETFs, Ethereum could surpass the $4,000 mark, driven by increased institutional interest and investor confidence.
Billy Markus' Bold Prediction:
Billy Markus, co-founder of Dogecoin and known as Shibetoshi Nakamoto, predicts Ethereum could reach $100,000. While this forecast has shaken the crypto community, I believe more realistic targets for this cycle are $6,000 and $9,800. This projection is grounded in current market dynamics and technical analysis rather than speculative extremes.
SEC Approval Details:
On May 23, 2024, the SEC approved the sale of spot Ether ETFs, combining proposals from Nasdaq, NYSE, and CBOE exchanges. This follows the SEC's earlier approval of Bitcoin ETFs in January 2024. The approved ETFs include those from Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity, and Franklin, with individual ETF registration statements still pending SEC sign-off.
The SEC's decision emphasized the need for comprehensive surveillance-sharing agreements with the CME to detect and deter fraud and manipulation. Despite not engaging in spot ether market surveillance, the CME's oversight of ether futures contracts provides a high correlation with the spot market, aiding in fraud detection.
Technical Analysis:
Linear Support: Provides a solid foundation, preventing significant downturns.
Massive Breakout: Indicators suggest an impending breakout, bolstered by ETF news.
Historical Analysis: Previous posts and technical patterns support a bullish outlook.
This new era for Ethereum, driven by ETF trading, is poised to bring substantial growth and opportunities for investors.
One Love,
The FXPROFESSOR 💙
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