ETH Market Can Flourish Regardless of Spot ETF Approval, Says Hashkey Capital Executive

IconCrypto News Terminal22 Apr, 2024

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ETH Market Can Flourish Regardless of Spot ETF Approval, Says Hashkey Capital Executive

Hashkey Capital portfolio manager Jupiter Zheng believes that a spot Ethereum ETF approval would help lift the market value of Ether, but the market can still flourish without it. In an interview with Crypto Briefing, Zheng said that there's not going to be a major sell-off even if the ETF is rejected because the market has not priced this in yet. Zheng's comments come as the U.S. Securities and Exchange Commission (SEC) is yet to approve a spot Ethereum ETF. Several applications have been filed with the SEC, but the agency has yet to make a decision. Previously on April 22, 2024, Zheng had said, "a spot Ethereum ETF approval would help lift the market value of Ether, but the market can still flourish without it." He added that, "there's not going to be a major sell-off because the market has not priced this in yet" should the ETF be rejected.

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