Ether Futures ETF Approval Might Be Bearish for Market, Analyst Says

📆 18/08/2023 18:22:00
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No, potential approval of ETF on Ethereum (ETH) futures contracts will not trigger next rally for crypto

Chief Investment Officer at Moskovski Capital Bitcoin analyst Lex Moskovski slams the uber-bullish sentiment of Ethereans excited by the potential approval of the Ether Futures ETF by the U.S. Securities and Exchange Commission.Analyst Lex Moskovski indicated at least three situations in which big"approval" events resulted in a massive crash for major cryptocurrencies.

For the majority of altcoins, their listings in the futures section of now-defunct FTX exchange also marked historic highs. Here's why potential approval of Ether-Futures ETF products in the U.S. should not be considered a bullish factor.Typically, analysts wait for crypto ETF approval and claim that these announcements are able to trigger the much-anticipated rallies of major coins.

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