Ethereum (ETH) Spot ETF: Santiment Warns of Bullish Potential Amidst Bearish Expectations

IconCrypto News Terminal26 Apr, 2024

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Ethereum (ETH) Spot ETF: Santiment Warns of Bullish Potential Amidst Bearish Expectations

Santiment, a leading crypto on-chain analysis platform, has reported a surge in discussions surrounding the potential approval of an Ethereum (ETH) spot ETF within the crypto community. However, the majority opinion among market participants seems to be that May is not the ideal time for such an approval. Santiment cautions that price movements often trend opposite to crowd sentiment, suggesting that the growing fear, uncertainty, and doubt (FUD) around ETH could potentially be bullish for the asset. Nonetheless, as the SEC's decision deadline approaches, volatility is likely to increase. Previously on May 23, Reuters reported that the SEC was expected to reject VanEck's spot ETH ETF application.

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