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.