Ethereum (ETH) suffered a brief decline on Wednesday afternoon despite increased accumulation from whales.
Ethereum restaking protocol Renzo took a huge hit after its restaked ETH failed to maintain a 1:1 ratio with ETH. While Franklin and Grayscale have seen the SEC postpone its decision on their application, BlackRock amended its spot ETH ETF filing. Hong Kong's spot ETH ETFs will begin trading on April 30. Ethereum suffered a brief decline on Wednesday afternoon despite increased accumulation from whales.
Nate Geraci, President of the ETF Store, commented: I’m now fully recharged from spot btc ETF approval cycle… Time for spot eth ETF. We have broken structure in Grayscale’s ETHE, suboptimal eth futures-based ETFs, etc. You can buy eth on publicly-traded COIN & HOOD, paying hefty fees. No reason for spot eth ETF not to exist. — Nate Geraci April 24, 2024 Many analysts have earlier reduced the odds of the SEC approving a spot Ethereum ETF in May.
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