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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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