SEC Anticipated To Reject Spot Ethereum ETFs In Upcoming Decision, ETH Price Takes 5% Hit
Summary
Ethereum's price dropped 5% amid expectations of SEC rejecting Ethereum ETFs. Issuers like VanEck and ARK anticipate denial due to discouraging meetings with the SEC. If rejected, it would be a setback for the crypto industry. Uncertainty looms as approval delay or rejection until 2024 is likely. Issuers may submit additional paperwork, but the sentiment leans towards rejection. The SEC may cite data depth and market nature as reasons for rejection. Rejection could lead to legal action and has already impacted Ethereum's price, currently at $3,100 with significant declines over fourteen and thirty days.
