Expert Prediction on Ethereum Price Movement
Arthur Cheong predicts a rise in ETH price to $4,500 before the launch of US-based spot Ethereum ETFs. This prediction is based on the low percentage of CT users holding ETH in their portfolios.
Arthur Cheong’s Background and Investments
Cheong, the founder of DeFiance Capital, has a strong background in crypto investing, startup ventures, and oil trading. DeFiance Capital has successfully navigated market challenges and secured significant funds for investments, highlighting investor confidence in Cheong’s vision.
SEC Approval for Ethereum ETFs
The SEC recently approved 19B-4 filings for spot Ethereum ETFs from major exchanges. However, former SEC Chair Jay Clayton clarified that this approval is just the first step. The ETF issuers still need approval for their registration statements before trading can begin.
Expected Timeline for Ethereum ETF Launch
While there is no set timeline for the approval of registration statements, industry experts anticipate an accelerated process. The SEC is likely to request changes and updates from issuers before granting final approval for trading to commence.
Hot Take: Are Ethereum ETFs on the Horizon?
As the SEC progresses with approving registration statements for Ethereum ETFs, the crypto community waits anxiously to see if trading will soon begin. Cheong’s bullish prediction adds to the excitement surrounding the potential launch of US-based spot Ethereum ETFs in the near future.
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