❗❗❗ETH ETF IS GOING TO LAUNCH NEXT MONTH❗❗❗
Here's how it will impact the price:

23rd of May is when ETH ETF was approved. During that week, $47M was invested into it.
The price got a drastic rise from $3,000 to $3,600 just because of the news.
It grew to $3,800 before the SEC decision. Then it got down again to $3,600.
The current state of Ethereum is not that good. This week it was bleeding.
It's still okay, since high chances this price is connected to the news around SEC.
That's what I expect after the ETF listing:
• The fall to around $3000
• Inflow of money
• This will provoke a slow growth
• In 2-3 months - local bull run and ETH
• After this - ETH NFTs cycle
HIGH CHANCES WE CAN GET OVER THE CURRENT ATH OF $4,600

But why do I think so?
BTC data
At first, it got down. Super down.
The price dropped from $46k to $39k.
But zooming out, in 2 months from ETF, we got to the ATH
The day before ATH we saw the biggest inflow in the history - $1B in a single day!
But it wasn't provoked only by this investment. Before March 13th, $10B was put into ETF.
The market expects the same with ETH.
Even if $4B will be invested into ETH ETF, we'll go to the ATH. Or beyond

Some other bullish ETH data:
• Whales accumulated 700,000 ETH(~$2.5B) during the previous 3 weeks
• The number of daily active addresses is slowly recovering
• The greed level of ETH is slowly growing - currently at 59 level.

But there might be the question around ETH ETF - why it was approved on the 23rd and will be listed in July(expected day - 2nd of July)
That's because of the documents.
To sell ETH ETF, there should be 2 of them: 19b-4 and S-1.
The first one was accepted right away when there was a problem with the second...

S-1 is responsible for giving detailed info to the SEC about the asset
Each company that is going to list ETH ETF should fill it out and send it to the SEC.
That institution will look through each of them and approve the listing.
There are already the first, who did it - ProShares.
In that S-1 statement, the company described the role of everyone in ETF:
• Coinbase Credit will provide ProShares with credit line
• Bank of New York Mellon will be a transfer agent

The ETH ETF is expected to see the world on July 2nd.
This event might change the whole direction of crypto for the next 4-6 months.
Be ready to see a more volatile market and red days right after it.

That's the wrap
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