SEC Receives Final Spot Ethereum ETF Applications from Issuers

SEC Receives Final Spot Ethereum ETF Applications from Issuers

The SEC is set to receive the final spot Ethereum ETF applications (S-1 forms) from the issuers by the end of today, signaling imminent listings. Meanwhile, Bitcoin continues to oscillate between $54,000 and $58,000. Although this volatility strains altcoins, gradual recoveries are being observed.

Final Spot Ethereum ETF Applications (S-1 forms)

The market’s slow recovery after a recent drop has sparked concerns about deeper bottoms. A widely accepted scenario suggests a potential bottom at $50,000. Investor psychology plays a crucial role here, and despite the absence of massive government and MTGOX sales, the market is pricing in fears with a multiplier effect. The fear and greed index has entered the extreme fear zone, plummeting by 60%.

Popular analyst Mark Cullen commented in his latest assessment: “With Bitcoin closing the week below May’s lowest level, Friday’s strength seems more like a dead cat bounce, suggesting a continued decline in the coming weeks.”

Santiment analysts echoed a similar sentiment: “After a brief surge that gave investors hope, the market pulled back, reigniting fear as the weekend approached. Bitcoin fell 2.3% in the last 24 hours and 8.6% over the past week. BTC has lost 18.4% of its value over the past month. Most altcoins have experienced even larger declines.”

Future of Cryptocurrencies

The German government continues to liquidate seized assets in stages, sometimes transferring them to market makers and sometimes to exchanges, triggering on-chain alarms. Bitcoin recently dropped again after hitting $58,000 due to one such transfer.

Matthew Hyland, though generally optimistic about a rise, expressed concerns about the ongoing weak closures: “Bitcoin confirmed the weekly break of the consolidation range that has persisted for months. BTC remains in an uptrend and would need to drop below $38,000 to end it. However, this weekly break opens the doors for lower price targets.”

The market remains uncertain, with mixed signals from various analysts and ongoing liquidation activities by governments.


To conclude, while the SEC’s imminent collection of final spot Ethereum ETF applications suggests potential growth, the overall cryptocurrency market remains volatile. Bitcoin’s fluctuating prices and the liquidation of seized assets by governments contribute to an atmosphere of uncertainty. Investors should remain cautious, as mixed analyst opinions and market conditions continue to impact digital asset investments.

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