{"id":161271,"date":"2023-09-23T04:56:17","date_gmt":"2023-09-22T23:26:17","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=161271"},"modified":"2023-09-23T04:56:17","modified_gmt":"2023-09-22T23:26:17","slug":"ethereums-prospects-shift-sec-acknowledges-new-spot-etf-application-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereums-prospects-shift-sec-acknowledges-new-spot-etf-application-crypto-news\/","title":{"rendered":"Ethereum&#8217;s prospects shift: SEC acknowledges new spot ETF application &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/03\/IMG_20220322_164603_71-80x80.jpg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 23, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li><em>ETH ETF approvals are now closer than ever following the SEC\u2019s acknowledgement of recent applications.<\/em><\/li>\n<li><em>ETH started to see a resurgence in demand after dipping below $1,600.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/bitcoins-etf-resolve-injects-volatility-into-the-market\/\" data-wpel-link=\"internal\">ETFs<\/a> have been a major topic of discussion for the last few months and have mostly revolved around <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ethereum\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a>. This time, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ethereum\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a> is the subject of the latest ETF-related development.<\/p>\n<hr \/>\n<p style=\"text-align: center\">How many are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-eth-to-usd\" data-wpel-link=\"internal\">1,10,100 ETHs worth today<\/a>?<\/p>\n<hr \/>\n<p>The SEC has reportedly acknowledged review of two ETF applications pertaining to Ethereum. The ETF applications in question were filed by Ark Invest and VanEck.<\/p>\n<p>The acknowledgement might not necessarily be an approval, but it highlights a positive step forward as opposed to a rejection from the regulatory authority.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">TRENDING: SEC Acknowledges Review of Two Spot <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">#Ethereum<\/a> ETF Applications <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/HYf1jbY2VN\" data-wpel-link=\"external\">pic.twitter.com\/HYf1jbY2VN<\/a><\/p>\n<p>\u2014 LunarCrush Social Trends (@LunarCrush) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LunarCrush\/status\/1705110224720326663?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">September 22, 2023<\/a><\/p>\n<\/blockquote>\n<p>The above outcome means there is a considerable chance that the two <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/etf-filing-sparks-ethereum-frenzy-these-metrics-surge\/\" data-wpel-link=\"internal\">ETH ETF filings<\/a> might receive approval sometime soon. There will be a 45-day period, during which members of the public will be allowed to issue their opinions regarding the ETFs.<\/p>\n<p>While this does not constitute confirmation that the ETFs will be approved, it points towards a potential positive outcome.<\/p>\n<p>An approval of the Ethereum ETFs would open the flood gates of institutional liquidity into the cryptocurrency. The subsequent demand could potentially facilitate a bullish outcome. The ETH ETFs come at a time when the cryptocurrency has been struggling to secure bullish momentum.<\/p>\n<h4><strong>Assessing the prevailing level of demand for ETH<\/strong><\/h4>\n<p>The ETF related development signals that the cryptocurrency could be about to experience a wave of bullish demand towards the end of 2023. However, these expectations are far from reality and are subject to confirmation of approval.<\/p>\n<p>In other words, approval is not yet within the realm of certainty.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Is your portfolio green? Check out the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-eth-to-usd\" data-wpel-link=\"internal\">ETH Profit Calculator<\/a><\/p>\n<hr \/>\n<p>Let\u2019s take a look at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/ethereum-whales-make-moves-were-key-metrics-impacted\/\" data-wpel-link=\"internal\">ETH\u2019s state of demand<\/a>. The token was starting to experience higher demand than sell pressure\u200c at press time. An assessment of ETH exchange flows revealed that it had higher outflows than inflows in the last 24 hours.<\/p>\n<p>However, the exchange flows have dipped considerably, which aligned with the lack of excitement in the market.<\/p>\n<div id=\"attachment_345753\" style=\"width: 1050px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-20.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345753\" class=\"wp-image-345753 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"ETH exchange flows\" width=\"1040\" height=\"454\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-20.png 1040w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-20-300x131.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-20-1024x447.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-20-768x335.png 768w\" data-lazy-sizes=\"(max-width: 1040px) 100vw, 1040px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-20.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345753\" class=\"wp-image-345753 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-20.png\" alt=\"ETH exchange flows\" width=\"1040\" height=\"454\" \/><\/a><\/p>\n<p id=\"caption-attachment-345753\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<p>The exchange flows suggest that the bulls might be attempting a gradual take over. However, they were not the only metrics pointing towards such an outcome.<\/p>\n<p>Notably, Ethereum\u2019s active addresses recently registered an uptick in the last 5 days after its previous dip. The same applies to the derivatives segment as the level of open interest soars to a monthly high.<\/p>\n<div id=\"attachment_345752\" style=\"width: 1050px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-21.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345752\" class=\"wp-image-345752 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"ETH active addresses and open interest\" width=\"1040\" height=\"454\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-21.png 1040w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-21-300x131.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-21-1024x447.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-21-768x335.png 768w\" data-lazy-sizes=\"(max-width: 1040px) 100vw, 1040px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-21.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345752\" class=\"wp-image-345752 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/chart-ETH-2-21.png\" alt=\"ETH active addresses and open interest\" width=\"1040\" height=\"454\" \/><\/a><\/p>\n<p id=\"caption-attachment-345752\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<p>Based on the above findings, it appears that ETH demand is making a comeback. This has been the case in the last three months, each time it dropped below the $16,000 price range.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 23, 2023 ETH ETF approvals are now closer than ever following the SEC\u2019s acknowledgement of recent applications. ETH started to see a resurgence in demand after dipping below $1,600. ETFs have been a major topic of discussion for the last few months and have mostly revolved around Bitcoin [BTC]. This time, Ethereum [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":161272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-161271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=161271"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161271\/revisions"}],"predecessor-version":[{"id":161278,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161271\/revisions\/161278"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/161272"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=161271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=161271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=161271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}