This is the reason you will "never get rich" from Ethereum in quick time

 

InvestorCrypto.net - There may be two main reasons why the price of Ether has hardly moved despite a significant approval of exchange-traded funds (ETF) for spot Ether in the United States.

On May 23, the U.S. Securities and Exchange Commission (SEC) approved eight spot Ether ETFs to be listed on their respective exchanges. The ETH ticker dropped by $3,718, a decrease of 3.4% right before the news, but rebounded by around 5% shortly afterwards. 

At the time of writing, ETH was trading at $3,806. Crypto commentator Zach Rynes suggests that the lack of movement reflects the idea that "everyone who wants to buy the approval has already done so."

Ether has surged by 29% over the past week following reports indicating that the SEC may have changed its stance on ETF approval. 

Rynes and many others also note that while ETFs have been approved, they have not yet been approved for launch. This requires an approved S-1 filing, a comprehensive document that includes financial details, company risk profiles, and the securities they intend to offer. 

VanEck has
recently submitted an amended S-1 filing to the SEC, with analysts stating that it could take weeks to months to obtain S-1 approval. Rynes believes that the next major price driver for Ether will be the inflow of capital from ETFs once they begin trading. 

“Since the ETFs haven’t actually launched yet, new capital inflow is still to come,” Rynes writes, with crypto research firm Second Mountain echoing similar sentiments.

“Expect significant capital inflows in the first week, potentially reaching billions,” Second Mountain said in a post on May 23, just before the SEC approved the ETF. However, some argue that this may not immediately lead to an upward trend. The price of Bitcoin dropped by 15% after the approval of spot Bitcoin ETFs for trading on January 10. According to CoinMarketCap data, it took 30 days for the price to surge by 30% to $51,870.

It is clear from recent developments that the approval of ETFs has the potential to significantly impact the price of cryptocurrencies such as Ether. 

While the initial reaction may not always result in immediate price increases, the long-term effects of increased capital flow from ETFs could lead to substantial gains. It remains to be seen how quickly ETFs for Ether will be launched and how investors will respond to them.

In conclusion, the approval of ETFs marks an important step towards mainstream acceptance of digital assets as legitimate investment opportunities. Despite the initial lack of significant movement in Ether's price, the future seems promising as more investors and institutions show interest in the cryptocurrency market. 

The key will be to monitor how ETFs for Ether are launched and how they are received by the market in the coming months.