Ethereum (ETH) ETF Unlikely to Gain Approval, Despite Altcoin Bull Market, Says Crypto Analyst

  • Top crypto analyst Michaël van de Poppe warns Ethereum traders that an ETH exchange-traded fund (ETF) approval from the U.S. Securities and Exchanges Commission (SEC) may not happen soon.
  • Despite the current turbulence of the crypto markets, Van de Poppe sees this as an opportunity for crypto investors.
  • He also shares his preference for trading newer altcoins over the “old” ones, citing better potential returns.

Michaël van de Poppe, a renowned crypto analyst, provides insights on the potential delay in Ethereum ETF approval and the current opportunities in the crypto market.

Ethereum ETF Approval Delayed

Michaël van de Poppe, a widely followed crypto analyst, has cautioned Ethereum traders that an ETH exchange-traded fund (ETF) approval from the U.S. Securities and Exchanges Commission (SEC) is unlikely to happen soon. He tells his 715,800 followers on Twitter that traders may have to wait a little longer for an ETH ETF. He believes that the markets are undervaluing a potential approval in August, despite Ethereum still being sold off.

Opportunities in Crypto Market Turbulence

Van de Poppe sees the current turbulence of the crypto markets as an opportunity for investors. He encourages investors to take advantage of the current market conditions to buy Bitcoin, Chainlink, and other altcoins. He states that despite the emotional fear of another drop, the opportunity to invest is here.

Preference for Newer Altcoins

Van de Poppe also shares his preference for trading newer altcoins over the “old” ones. He notes that old coins like Polygon (MATIC) continue to provide bad returns, suggesting that newer coins might yield higher upward returns.

Conclusion

Despite the potential delay in Ethereum ETF approval and the current market turbulence, Van de Poppe sees opportunities for investors. He encourages investors to take advantage of the current market conditions and consider newer altcoins for potentially higher returns.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Michigan State Retirement Fund Invests $10 Million in Grayscale Ethereum Trust, Securing Major Stake

The Michigan State Retirement Fund has strategically positioned itself...

Grayscale Proposes Listing for Grayscale Digital Large Cap Fund (GDLC) as ETP with Bitcoin Dominating Holdings

On November 4, COINOTAG News reported that Grayscale has...

Fragmetric Completes Builder Round Financing to Enhance Solana Ecosystem Security and Liquidity

On November 4th, COINOTAG News reported that Fragmetric, a...

Vitalik Buterin Warns Against Exclusion of Russian Developers in Open Source Community

On November 4th, Vitalik Buterin, co-founder of Ethereum, took...

Bitcoin Volatility Soars Amid U.S. Election Impact on Crypto Markets

Bitcoin Volatility Surges as U.S. Election Heightens Stakes for...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img