Ethereum ETFs To Be Approved by May? 😲

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And as K33 Research expected, this long-awaited move did not become a "sell the news" event, as much of the leverage had already been shaken out last week. Now that this regulatory barrier has come down, we look ahead to what other opportunities may open up in crypto. But before we gaze too far into the horizon, let's recap today’s top crypto news stories. TLDR: - SEC approves first-ever spot Bitcoin ETFs in the U.S. 🇺🇸 - Fund issuers engage in battle royale for BTC ETF market share, slashing fees 🗡️ - Gensler offers warnings despite approving BTC ETFs 🚨 - UK central banker criticizes BTC's value and efficiency 😐 - Ethereum ETF approval odds look good for May 🤞 - Ripple announces $785M stock buyback plan 💰 Now let's dive deeper into each of those topics …   BTC Spot ETF Approved fr! 🇺🇸 First, the most important news… It finally happened - the SEC approved not just one, but ELEVEN spot Bitcoin ETFs! This mass greenlighting came on the expected deadline after months of bottled-up anticipation. Financial giants like BlackRock, ARK Invest, Invesco and more now have the all-clear for their BTC funds. Even Grayscale's Bitcoin Trust secured conversion authority! Of course, Gary Gensler couldn't resist throwing some shade amidst his agency's watershed Bitcoin moment. Despite the reversal, he shilled the same old "illicit activity" 🙄(we will cover this one in detail). ETF approval unlocks billions (or maybe trillions) in fresh institutional capital and mainstream accessibility. So is it going to impact BTC’s price eventually? Read the [full story](~/AAQRxQA~/RgRnglt6P0R3aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvYnJlYWtpbmctc2VjLWFwcHJvdmVzLWZpcnN0LWV2ZXItc3BvdC1iaXRjb2luLWV0ZnMtaW4tdGhlLXVzP2xpZD0wNTFyNGZqZGU3MmpXA3NwY0IKZZ561p9lJFJJBVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)!   [Bitcoin Spot ETF Timeline]   The Hunger Games (ETF Edition) 🗡️ And the battle royale begins! After the SEC finally (and reluctantly) approved Bitcoin spot ETFs, fund issuers drew swords to compete over market share. And their chosen weapon? Significant fee cuts to attract capital inflows! BlackRock led the charge - dropping its ratio to 0.25% after originally demanding a 0.3% fee. Not to be outdone - ARK Invest, 21Shares, Bitwise and Valkyrie matched with reductions down to 0.2% or lower. Of course, one player remains the elephant in the room - Grayscale still demands 1.5% with its $28 billion GBTC AUM. What does this fee war indicate? Is it going to help crypto in any way? Read the [full story](~/AAQRxQA~/RgRnglt6P0R2aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvc3BvdC1iaXRjb2luLWV0Zi1pc3N1ZXJzLWNvbXBldGUtb24tZmVlcy1vZmZlcmluZy1kaXNjb3VudHM_bGlkPXp3bGwydnJicmM3NFcDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   Gensler’s Warnings Continue 🚨 The chief regulator couldn't resist throwing some shade on the assets underlying these new funds. Gensler emphasized the SEC does NOT endorse Bitcoin itself following approvals. He gave the same old narratives of volatility risks and usage for nefarious exploits. 🙄 Gens even dragged precious metals like gold and silver to emphasize BTC's inferior industrial utility. Check out his [entire statement](~/AAQRxQA~/RgRnglt6P0SOaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvZ2FyeS1nZW5zbGVyLXNlYy1kaWQtbm90LWFwcHJvdmUtb3ItZW5kb3JzZS1iaXRjb2luLWFmdGVyLXNwb3QtYml0Y29pbi1ldGYtYXBwcm92YWw_bGlkPWFnY2hxMjZzNnlxMVcDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   [Simply Explained: What is a Bitcoin ETF](~/AAQRxQA~/RgRnglt6P0Q8aHR0cHM6Ly93d3cueW91dHViZS5jb20vd2F0Y2g_dj1BR0ZzVlEzQWF6MCZsaWQ9N2JvNGtpeXZ4eXp1VwNzcGNCCmWeetafZSRSSQVSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) Simply Explained: What is a Bitcoin ETF [WATCH NOW](~/AAQRxQA~/RgRnglt6P0Q8aHR0cHM6Ly93d3cueW91dHViZS5jb20vd2F0Y2g_dj1BR0ZzVlEzQWF6MCZsaWQ9bTh3bHZpbjJ3dWl4VwNzcGNCCmWeetafZSRSSQVSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   UK Central Banker Criticizes Bitcoin Again 😐 Bank of England Governor Andrew Bailey also showed his skepticism about Bitcoin this week. During recent UK Parliament hearings, Bailey dragged Bitcoin as an "inefficient" payments innovator while doubting its intrinsic value. Echoing her boss' skepticism, Deputy Governor Breeden also spotlighted crypto's lack of regulatory guardrails as hindering mainstream adoption. But she did acknowledge the landscape is slowly evolving. The banking bureaucrats also fretted about stablecoins and their “opaque” inner workings. Concerns we've heard ad nauseam at this point. Read the[full story](~/AAQRxQA~/RgRnglt6P0SRaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvYmFuay1vZi1lbmdsYW5kLWdvdmVybm9yLWFuZHJldy1iYWlsZXktYml0Y29pbi1pcy1wcmV0dHktaW5lZmZpY2llbnQtYXMtcGF5bWVudC1tZXRob2Q_bGlkPWh6MDM1eTV4ZTFjOVcDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   Ethereum ETF Approval 🤞 And something we are looking forward to… With Bitcoin's ETF floodgates busting wide open, the expectation now pivots to the impending ETH spot fund verdict! And Bloomberg's Eric Balchunas puts the odds of approval by May at 70%. That's when the SEC deadline hits for multiple Ethereum trust applications. He previously said he can't imagine a scenario where BTC gets the green light but not Ethereum. After all - the ETH spot is "tied to the hip of the Bitcoin spot." So with OG coin's decade-long issue finally rectified, hopes run high for Ether's emancipation soon after! Ethereum itself felt the warmth of positive sentiment this week. ETH pumped 15% in the last 7 days - piercing above $2.5K resistance as fund approval odds boost bull morale! Is Ethereum going to enjoy the same price ride as Bitcoin did? Read the [full story](~/AAQRxQA~/RgRnglt6P0R6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvZXRoZXJldW0tc3BvdC1ldGZzLWNvdWxkLWJlLW5leHQtYWNjb3JkaW5nLXRvLWJsb29tYmVyZy1hbmFseXN0P2xpZD1mb3R5aW9nbnBtYjZXA3NwY0IKZZ561p9lJFJJBVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)!   Ripple’s Buyback Announcement 💰 Ripple Labs plans to use $285 million to buy back shares from early investors at a $11 billion valuation. This liquidity largesse offers investors a chance to offload up to 6% of their holdings. Ripple also pledged an additional $500 million to grease the wheels on payroll tax and RSU conversions. Rather than rushing to IPO, the firm reaffirmed its commitment to supporting native token growth and pursuing regulatory clarity abroad first. How is it going to impact XRP? Read the [full story](~/AAQRxQA~/RgRnglt6P0RoaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvcmlwcGxlLWFubm91bmNlcy1kb2xsYXIyODVtLWluLXNoYXJlcy1idXliYWNrP2xpZD13cjh5NHUyMzhmczlXA3NwY0IKZZ561p9lJFJJBVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)!   And that wraps up the key crypto news for today. May your trades be fruitful and your diamond hands stay strong forever! 💎🙌   [Apple Store](~/AAQRxQA~/RgRnglt6P0RLaHR0cHM6Ly9hcHBzLmFwcGxlLmNvbS9hcHAvY29pbm1hcmtldGNhcC9pZDEyODIxMDcwOTg_bHM9MSZsaWQ9NzRkeTlkYm5ucWhtVwNzcGNCCmWeetafZSRSSQVSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [Google Play](~/AAQRxQA~/RgRnglt6P0RhaHR0cHM6Ly9wbGF5Lmdvb2dsZS5jb20vc3RvcmUvYXBwcy9kZXRhaWxzP2lkPWNvbS5jb2lubWFya2V0Y2FwLmFuZHJvaWQmaGw9ZW5fVVMmbGlkPXhkNXZxN25lcnplNlcDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Twitter](~/AAQRxQA~/RgRnglt6P0QyaHR0cHM6Ly90d2l0dGVyLmNvbS9Db2luTWFya2V0Q2FwP2xpZD13eThnazJ5MHNlbWxXA3NwY0IKZZ561p9lJFJJBVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [Telegram](~/AAQRxQA~/RgRnglt6P0QraHR0cHM6Ly90Lm1lL0NvaW5NYXJrZXRDYXA_bGlkPTMxYTJmYXJzYXdhd1cDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Facebook](~/AAQRxQA~/RgRnglt6P0Q3aHR0cHM6Ly93d3cuZmFjZWJvb2suY29tL0NvaW5NYXJrZXRDYXA_bGlkPThhMDJrZXZ4cGh6alcDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Instagram](~/AAQRxQA~/RgRnglt6P0Q5aHR0cHM6Ly93d3cuaW5zdGFncmFtLmNvbS9jb2lubWFya2V0Y2FwLz9saWQ9Zjl4bWJjeHlpaWNkVwNzcGNCCmWeetafZSRSSQVSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [LinkedIn](~/AAQRxQA~/RgRnglt6P0RAaHR0cHM6Ly93d3cubGlua2VkaW4uY29tL2NvbXBhbnkvY29pbm1hcmtldGNhcC8_bGlkPW11Y2prOXNnNTdha1cDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Update Preferences](~/AAQRxQA~/RgRnglt6P4TWAmh0dHBzOi8vMDUuZW1haWxpbmJvdW5kcHJvY2Vzc2luZy5jb20vcHJlZmVyZW5jZV9jZW50ZXIvdjEvZXlKaGJHY2lPaUpTVXpJMU5pSjkvZXlKemRXSWlPaUp3WTNZeElpd2lhV0YwSWpveE56QTBPVGN6T1RBM0xDSmxlSEFpT2pFM016WTFNRGs1TURjc0ltUWlPaUlrTUNSQ1VsSnlSelYzV0dkVFNWcDRaVGRSU25Jekx6UkJQVDBrT0c5eWRFSllPVGRaVW1OdVVrcHRLelV6Ym1obFRXa3hNbkEwVFU0MFlqVTRUbWhSWm5OeFF5OXZVakZ5ZFdjd1ZuWmxhRVZpVlZwVlQwRndYRzVCVEZCUklpd2lhQ0k2SWpBMUxtVnRZV2xzYVc1aWIzVnVaSEJ5YjJObGMzTnBibWN1WTI5dElpd2lZeUk2SWpJek1UZ2lMQ0p0SWpvaU5qVTVaamc1TWpWak1URTFNalV3TURSa09Ua3dZell6SW4wL2YyeXdkNmdKSDNaY0FFTEpuMEZ3cHF5MTBFSERfd3BWWDRlWVNaTE1FSDh0ZGs2eWdBUnF5MFlpWnhZa19VMVFkWm1aNFVYamJIZlR3T2lFYnU2ZWRrUkJOalRoc3NkcC11c1VoY0FCTFdvb3EwenY5SjdRX1FDUVJTYjZvWjNTenZWMFhoaTI3WG1Tb2JzbVdMbW1UQTFFRWJ1ODlOaTA4TkxNek1wM1YydkNNQXE1VU5iZW1sSmFLbzcyZFN0OTdqSlhkQnF5RjdzeFNzdnp2VlNJZUkzaTBVZmI3Wkd2Y0lnWjJjazhtdEhYUTVhZG96WUMwV0ZmSXBiR1pvSXkwU2NDNTMxWFQ4dXlobjF4WHFLTjZrNk12R3I3QWFwWGpWaExsTVdCc2hKamp4RlNQdFdGSU5JRS1NRjNGQ1N5NkFCa3J0ZnB3V3JjZFB6Y1htcHdhd1cDc3BjQgplnnrWn2UkUkkFUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) | [Unsubscribe](~/AAQRxQA~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~) © 2024 CoinMarketCap CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States