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Spot Ether ETFs are historic, so why is ETH chopping?
Bearish Unlock
Jack Inabinet Jack Inabinet
May 24, 2024 • 2 min read
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Ethereum’s spot ETFs took a major step towards trading yesterday after listing exchanges received “delegated approval” for their 19b-4 applications. Why is the ETH price now sliding?

ETF experts had initially projected that we could expect to receive a spot ETH ETF decision around 4 PM EST, but when the moment this deadline arrived devoid of any updates, the price of Ether collapsed by 8%.

Price managed to steadily climb higher from these lows in the hour that followed before popping nearly 4% higher after the first announcement of spot ETH ETF approval hit the news wires at 5:02 PM EST!

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Jack Inabinet

Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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