- The Securities and Exchange Commission (SEC) is reviewing Ethereum ETF applications, including VanEck’s for the Spot Ethereum ETF by May 23.
Amidst the buzz surrounding Bitcoin’s halving, Ethereum finds itself at a crucial crossroads, as the Securities and Exchange Commission (SEC) initiates a 21-day comment period for Ethereum ETF applications.
A veil of uncertainty remains over the immediate fate of Ethereum ETFs with the potential rejection or approval of VanEck’s application for the Spot Ethereum ETF due on May 23 deadline.
A rejection of the Ethereum ETFs might not just apply downward pressure on Ethereum but could affect the whole ecosystem including Bitcoin.
Reflecting on the previous Bitcoin halving event on May 11, 2020, which saw a 12% surge in price the following week. It’s important to note that attributing these movements solely to the halving remains inconclusive. Various factors such as loose monetary policies and heightened retail investor participation also played influential roles back in 2022, making it challenging to directly link the halving to the market fluctuations.
Although a precise date remains unspecified, current estimations suggest the halving is likely to occur by late April, based on the ongoing pace of block validations.
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