ETH Price Threatens Another Major Dump Before Recovery
| Tradingview The Relative Strength Index (RSI) shows that bears are firmly in control and that it may take a miracle to reverse the trend. Meanwhile, investors would be in luck if the Securities and Exchange Commission (SEC) green-lights the first futures-based Ethereum exchange-traded fund (ETF) this September, or in October. If history repeats itself, ETH price might be up for a 60% rebound following the approval. Bitcoin rallied by the same margin two and a half years ago when the agencies greenlighted the BTC futures ETF. Meanwhile, Cathie Woods Ark Invest has filed a proposal with the SEC seeking to offer the first spot ETH ETF product. The product, referred to as ARK 21Shares Ethereum ETF is similar to the spot BTC ETFs that the agency delayed last week. The SEC said that it needed time to digest the proposals following Grayscales win in the appeals court. Grayscale Investments, the largest digital asset manager in the world is seeking approval to convert its Bitcoin Trust (GBTC) shares into a spot Bitcoin ETF. Coinbase was named the custodian in the filing, which means the exchange will store the Ethereum backing the product likely to be listed on Cboe BZX Exchange. Experts believe the agency will approve the








