Ethereum Whales Scoop up $2.45 Billion Worth of ETH in Weeks

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Securities and Exchange Commission unexpectedly approved several 19b-4 forms for Ethereum exchange-traded funds , triggering a major rally. On May 27, Ethereum came close to reclaiming the $4,000 level due to investor exuberance. However, this excitement quickly dissipated as soon as market participants realized that the SEC was yet to approve S-1 registration forms that would make it possible for these products to start trading.

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