Both had offered a muted reaction to the news that United States regulators hadA significant achievement for the crypto industry and a sharp u-turn on policy for the Securities and Exchange Commission , the ETFs were nonetheless not yet ready to trade. Additional preparations, whichDiscussing the latest events, James Seyffart and Eric Balchunas, dedicated ETF analysts at Bloomberg Intelligence, entertained the idea of a mid-June go-ahead.
Popular trader Daan Crypto Trades saw the potential for Bitcoin’s share of the overall crypto market cap to be challenged considerably once the Ethereum ETFs launched. “This has been in an up trend for about 1.5 years and if there’s anything that could reverse this trend it would be ETH leading on the back of an ETF being approved. 52% and 48% are the main levels.”The risk to the uptrend was also noted by other traders in what they considered may be a prelude to a full-blown “altseason.”
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