Approved Ethereum ETF: Reasons Wealth Hasn't Followed

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Crypto commentators suggest there could be two reasons why the price of ETH hasn’t rocketed in the wake of spot Ether ETF approvals.

There could be two main reasons why the price of Ether has barely moved despite the landmark approval of spot Ether exchange-traded funds (ETF) in the United States. 

On May 23, the U.S. Securities and Exchange Commission (SEC) approved eight spot Ether ETFs to be listed on their respective exchanges. Ether 
ETH tickers down $3,658 fell 3.4% just before the news, recovering by around 5% shortly after. ETH is trading at $3,806 at the time of writing.

Crypto commentator Zach Rynes argues that the lack of movement reflects the notion that “everyone who wanted to buy the approval already did.



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