bullish
Long ETH, Short BTC on Expected ETH ETF Approval
Mint has highlighted this Insight as a Top Pick
224 Views03 Jun 2024 16:45
SUMMARY
- The SEC's approval of 19b-4 forms marks a critical step towards spot Ethereum ETFs, signaling a potential near-term final approval that could drive significant ETH spot buying.
- Despite recent gains following ETF approval news, Ethereum remains a laggard in the crypto rally, underperforming relative to Bitcoin and smaller cryptocurrencies like Solana, BNB, and Dogecoin.
- Bitcoin faces headwinds from an expected influx of supply due to Mt. Gox repayments and losses from the DMM hack, which could pressure BTC prices in the short term.
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