The crypto market has receded from the weekly peaks on the surprise approval of spot Ethereum ETFs. Prices corrected across the board on the D-Day following a cool down from the rally on Monday. At the time of writing, Bitcoin price forecast remains unchanged in the last 24 hours while hovering at $68,050. Most altcoins including Ethereum are in the red, sending mixed signals ahead of the weekend.
Why Ethereum ETFs Failed To Move The Market
The Securities and Exchange Commission (SEC) pivoted towards spot Ethereum ETFs suddenly on Monday. This followed what experts in the industry described as a political move.
ETF operators were hastily requested to update their proposals ahead of the approval on Thursday. Three exchanges were granted permission to list Ethereum Exchange Traded Products (ETPs), including the Nasdaq, NYSE, and CBOE. However, trading will not start until the SEC approves individual ETP operators.
The actual trading of Ethereum ETFs and ETPs may be delayed further, with
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