BTC to USD by Simultaneously, the SEC approved Grayscale’s application to launch a Spot Ethereum ETF, which added enthusiasm to the already heated sentiment of crypto market participants.
Notably, outspoken crypto critic weighed in on this unfolding story. In a tweet, he pointed to the current of $35,000 and suggested that speculators are betting on the SEC’s approval of Grayscale’s GBTC conversion into an ETF.
Schiff cautioned that if this conversion does indeed receive the green light, it might signal the peak of the ongoing Bitcoin price rally. He further warned that any potential sell-off following approval could be less severe than anticipated.
As crypto enthusiasts await the SEC’s verdict, the future of hangs in the balance at yearly highs, with its price and market stability at the forefront of everyone’s minds.
This article was originally published on U.Today
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