Arthur Cheong, founder and CEO of cryptocurrency investment firm DeFiance Capital, said that the price of Ethereum could rise to the $4,500 mark before the first spot Ethereum exchange-traded fund (ETF) receives official approval. Previously, the Securities Exchange Commission (SEC) approved the 19b-4 applications of eight spot Ethereum ETF issuers on May 23, allowing them to list and trade on their respective exchanges.
Bloomberg ETF analyst James Seyffart wrote in a May 20 X post that while the approval of the 19b-4 filing is a positive signal from U.S. securities regulators, ETF issuers still need to obtain approval for the S-1 filing, which could take months.
DeFiance Capital founder: ETH price could reach $4,500 before ETH ETF launch
2024-05-27 11:57:24
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