At Extreme Investor Network, we understand the importance of staying informed about the latest developments in the stock market, trading, and Wall Street. That’s why we want to provide you with exclusive insights and analysis on key topics like the approval of spot ETH ETF registration statements by the SEC.
Speculation is brewing about when the SEC will give the green light to spot ETH ETFs, with experts anticipating approval within the next few weeks to a maximum of 2-3 months. The groundwork has already been laid with previous approvals for spot BTC ETFs and ETH futures ETFs, so it’s just a waiting game to see how the SEC decides to proceed.
To stay ahead of the curve, investors should keep a close eye on ETH-spot ETF market chatter on Tuesday, May 28th. However, it’s important to also consider other factors that may impact buyer demand for BTC-spot ETFs and BTC, such as US economic data releases and statements from FOMC members like Lisa Cook, Loretta Mester, and Neel Kashkari.
In terms of technical analysis, BTC is showing bullish signals as it hovers above the 50-day and 200-day EMAs. A breakout above the $69,000 resistance level could pave the way for a rally towards the $70,601 high and potentially even the $73,808 all-time high. On the flip side, a break below the 50-day EMA could signal a bearish trend towards the $64,000 support level.
With a 14-Daily RSI reading of 57.31, BTC may have room to climb towards the all-time high before reaching overbought territory. Be sure to keep a close watch on US economic data, FOMC member speeches, and any news related to US crypto-spot ETFs for a well-rounded investment strategy.
For more exclusive insights and analysis on the stock market, trading, and Wall Street, stay tuned to Extreme Investor Network. We’re your go-to source for cutting-edge information to help you navigate the complex world of investing with confidence.