Dear Readers,

The highly expected news in the crypto market world is the approval of the ETH ETF by SEC in US.

As per the great saying Devils in the Details, we will de-code everything around this and discuss in detail.

Unlike the approval of BTC ETF approval, there were wide range of confusions over the analysts on whether ETH ETF would be approved or not.

The major thing of speculation for this because SEC considers ETH as a security and not a commodity.

1. The approval of ETH ETF may confirms that ETH would be considered as a commodity only. This would also help other cryptocoins in the market to be considered as commodity and not security. The outlook will be justified with this ETH ETF approvals as many cryptos were fired by SEC as they consider them as securities. This is a big relief to all of them. Soon, this will also be cleared for the cryptocurrencies as well. 

2. As discussed in our previous article on the approvals, the price of Ethereum has already broke out even before the ETH ETF approval news. The target was around $ 4090 level. But to reach this, the price needed to be crossed 0.786 level, that is 3800$. But this has been- priced in even before the event. 

3. As we have already discussed, The ETH ETF approval would be held in 2 steps. One is the approval of form 19b-4. That has been done. But the next step is the clearance of Form S1 documents. This will take some time, atleast 2-3 months.  In the case of BTC ETF, this has taken about 3 months. But as BTC ETF has happened, the timeframe could also be shortened. 

3. These are the lists of the ETH ETF approved companies. From these companies while listed in the market, there would be huge inflow of funds to the crypto markets with ETH. 

4. If we consider the trading volumes of BTC and ETH, ETH normally takes 40% of the trading volumes of BTC and in some times, ETH trading volumes would be equal to that of BTC. With the anticipated financial inflow and the desire of the BTC holders in these funds, would also be HODL ETH as they deem it is necessary to have some positions in the ETH. But all it will happen after the trading starts in the markets.

Until then if you ask me whether will it be a major correction, I would say no. But if any major corrections to happen, there should be a major news around this- but it is not as of now. Everyone knows that ETH ETF approved and ETH prices would start to move ahead. If whales would buy at cheaper prices, they can only do it in the futures markets. If we see the details, there are liquidity at the level of $ 3700. So, $ 3700 would be considered as a strong down side level in the prices of ETH. 

5. We can anticipate the BTC dominance would be coming down which pushes the altcoins to pump. So, we can anticipate a sure ALT Coin season sooner or later. So, it would be highly profitable if we take positions in the ALT coins. 

6. By November 2024, there is the US elections. As we see Donald Trump openly supports and advocates for the cryptos.  For the first time in the US election history, the cryptos are considered as important factors in this election. If Trump wins in the US elections, there will be a sure pump in the Crypto Markets.

Watch it out and take your decisions accordingly!