Spot Ether ETFs officially approved by the SEC, so why isn’t ETH mooning?

There we have it: from near-certain denial just a week ago, the U.S. SEC has officially approved the 19b-4 filings for the spot Ether ETFs, giving the green light for them to begin trading. This unexpected news impacts crypto not just because Ether is confirmed to not be a security, with some heavy inflows expected, but also because many other tokens are now tacitly confirmed to not be securities. And yet, with all these reasons to be jubilant, the price of ETH is down. Let’s discuss why that might be.

Further reading:

• Spot Ether ETFs receive official approval from the SEC
• Ethereum ETFs launch next month ‘certainly possible' — Analyst
• Ethereum ETF approved, so why aren’t we rich yet?
• SEC’s ETF decision means ETH and ’a lot’ of other tokens are not securities
• Bybit CEO refutes insolvency rumors, shares proof-of-reserves
• Meet the women behind the world’s largest crypto exchanges
• Crypto icon Kabosu, the Doge meme dog, passes away at 17

So, grab yourself a coffee, and let’s get into it!

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