The U.S. Securities and Exchange Commission (SEC) approved the 19b-4 filing for eight Ethereum spot ETFs at around 5 am this morning. Upon hearing the news, many people rushed to the SEC website to verify the authenticity of the information, causing the SEC website to temporarily crash.
(Background:
SEC approves eight Ethereum spot ETFs! But there is still a crucial document missing before listing. Will ETH fall instead of rising?
)
(Supplementary background:
Ethereum long and short tug-of-war: Looking for clues from the history of Bitcoin ETF trends
)
The U.S. Securities and Exchange Commission (SEC) officially approved the 19b-4 filings (exchange rule changes) for eight issuers’ Ethereum spot ETF applications at around 5 am this morning.
However, after the news of the Ethereum spot ETF was released, there seemed to be little change in the market trend. The Ethereum price briefly rose to $3,900 and then began to fluctuate in the range of $3,750 to $3,850. At the time of writing, it was reported at $3,816.75, with only a 1.6% increase in the past 24 hours.
Website crash due to excessive visit requests
In addition, after the SEC officially approved the 19b-4 filing for the Ethereum spot ETF, an unexpected incident occurred. According to a tweet from Eleanor Terrett, a Fox Business News reporter, the SEC website crashed temporarily because everyone was trying to access the approved documents and voting details of the Ethereum spot ETF. This also reflects the market’s level of attention to the Ethereum spot ETF, which exceeded expectations. Currently, the SEC website has returned to normal.
Whales suspected of cutting losses and replenishing Ethereum
On the other hand, blockchain analyst AI Auntie posted that a whale who had previously shorted Ethereum has started repaying loans to the lending protocol Aave. This whale had previously pledged 2,898 WBTC at a price of $45,906 per coin, and their unrealized profit has now reached $63.64 million. Even after deducting the losses suffered when the whale allegedly replenished Ethereum, they still have an unrealized profit of $10.12 million.
However, if the price of Ethereum continues to rise, this whale may end up losing all the money they have earned.
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