![Ethereum ETF decision in a few hours: sell the news?](https://s40560.pcdn.co/wp-content/uploads/2024/03/bic_ETH_Ethereum_Staking-covers_safe-1-850x478.png)
As the final decision on VanEck's Ethereum exchange-traded fund (ETF) approaches, the financial and crypto communities are abuzz.
The crypto community is wondering if the potential approval is priced into the market cap of Ethereum (ETH) or if it could lead to major changes in the market.
Ethereum ETF decision expected around 4:00 p.m. ET
To wait for Bloomberg ETF analyst Eric Balchunas reported an announcement from the SEC around 4:00 p.m. ET today. Based on previous decisions, like the one regarding the Bitcoin Spot ETF adopted at 3:45 p.m. ET, we could expect a similar timeline.
Suggest Marcus Thelen of 10X Research said SEC Chairman Gary Gensler may preface the decision with a tweet warning about investment risks. This is similar to its approach before the Bitcoin ETF (BTC) was approved.
Read more: Everything you need to know about Ethereum funds and altcoin season
This tweet, expected around 9 a.m. ET, could indicate whether approval is likely. Previously, the SEC had issued warnings ahead of major decisions related to cryptocurrencies, including Bitcoin futures ETFs.
Many in the crypto industry are wondering if this approval could lead to a “selling the news” scenario. However, Crypto Nova, a well-known crypto analyst, claims that the market has not yet adapted to such an event. Crypto Nova suggests investors check the data.
“Since the last bull run in 2021, Ethereum (and alts in general) have only fallen relative to Bitcoin. The market has only looked at Bitcoin due to the one-time ETF approval and none of that has turned to Ethereum yet. "He said Cryptonova.
![ETH/BTC Price Performance](https://beincrypto.com/wp-content/uploads/2024/05/image-205-850x493.png)
This indicates that swing season, historically accompanied by large gains for Ethereum, has not yet begun. “None of the potential impacts of the approval have been taken into account,” claims Crypto Nova, highlighting Ethereum’s enormous upside potential. He predicted a price target of $10,000 for Ethereum this year.
Rather, investors should remember the market reaction after the approval. Bitcoin ETFs Spot, as the price of Bitcoin fell more than 20% to $38,000. This serves as a warning that endorsement can lead to sales.
However, the long-term outlook remains optimistic. Thielen believes a certified Ethereum ETF could reposition Ethereum from a utility-focused asset to a store of value asset, similar to Bitcoin's shift after 2017.
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