Gary Gensler’s SEC is known for playing power games with the cryptocurrency industry, like taking their time to approve any kind of application for crypto products.. Applications have been filed quite some time ago for what the community sees as Gensler’s only preferred crypto to have its own spot ETF.
The lack of engagement from the SEC with applications from ETF issuers plus Grayscale’s withdrawal have fueled speculation in the community that approval is not on the horizon. Though all the other cryptos in the top ten have seen modest rises in the past twenty-four hours, Ether hardly budged. At press time, it is still way below its critical support level of $3,000.
Unlike Bitcoin, Ethereum hasn’t made any kind of major price movements this year. And the bulls are now unimpressed.
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