10x Research: The market is waiting for the SEC to issue a warning about crypto investment risks to determine the Ethereum spot ETF approval prediction

Odaily Odaily News 10x Research said in its latest report that a few hours before the Bitcoin spot ETF was approved, Gary Gensler, chairman of the US SEC, posted on X that cryptocurrency investors should consider all potential risks before making any investment. Based on historical experience, a similar post may be published at about 9 am Eastern Time this morning, and it will be clearer whether the ETF is about to be approved. Just as the SEC previously issued warning signals before the listing of ETFs related to cryptocurrency futures, the warning in January 2024 also indicated that the Bitcoin ETF would be approved. Today, the market will wait for a similar "warning". However, approval seems to be just a formality, as the discount rate of the Grayscale Ethereum Trust has narrowed from -30% a week ago to only -8%, which means there is at least a 90% probability that the SEC will approve the ETF. The trust manages $11 billion in assets, which is considerable and may see some investor capital outflows. The key question remains when these ETFs will start trading if approved.