Industry experts have begun to question the US SEC’s motives. As a result, overall optimism regarding Spot Ethereum ETF applications has begun to wane in recent weeks. This is despite earlier speculation that the Commission would approve all filings in May 2024.
As the community continues to speculate on whether a potential Ethereum ETF will fail or not, And when asked Perplexity, an alternative AI bot similar to the popular ChatGPT, about what would happen to its price. ETH If the US SEC really rejects all current proposals, Chatbot’s response is to believe that decision no matter what. It will not have a big impact on ETH price, at least in the short term.
“If the US SEC rejects all Ethereum ETF applications, the impact on ETH prices may not be as significant as initially anticipated. Analysts and experts recommend whether an ETF is approved or rejected. It may not have a significant impact on altcoin prices in the short term.”
BTC ETFs have also been rejected over the past ten years, and Bitcoin has survived many rejections in the end. However, the case of Ethereum is quite different as the asset does not have a long history with regulators.
refer : cryptopotato.com
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