SEC Chair Gary Gensler Avoids Opining on Possibility of Ethereum ETF, Says Majority of Tokens Are Securities

Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), says the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) this week doesn't impact the potential greenlighting of other crypto financial products.

Timeline of Ethereum

The journey toward approving an Ethereum ETF stands on shaky ground when compared to the recent launch of Bitcoin ETF. While the BTC ETF launch took nearly a debate and a few lawsuits, SEC Chair Gary Gensler never called Bitcoin anything other than a commodity.

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a Solana-based memecoin. The analyst pseudonymously known as Bluntz tells his 236,100 followers on the X social media platform that the dogwifhat (WIF) memecoin could potentially appreciate by approximately 359% from the current level.

Ethereum (ETH) experienced a 20% surge this week, reaching a 620-day high. The crypto community is uncertain about whether ETH can sustain this momentum to reach $3,000 or if a market correction is imminent.

Larry Fink is the CEO of the world's largest asset manager, BlackRock Inc. (NYSE: BLK). The finance titan is diving deeper into cryptocurrencies, first through Bitcoin (BTC) and now turning its eyes to Ethereum (ETH).

Ethereum continues to assert its dominance, proving to investors and enthusiasts why it reigns supreme among altcoins. The recent price action of Ethereum paints a bullish narrative, with potential signals pointing toward an ongoing growth cycle that could redefine its market stature.

The Ethereum markets rallied significantly during the session on Thursday, as we continue to see a lot of buyer pressure. The entire crypto market seems to be on the precipice of a bigger move as well.

In an Ask-Me-Anything (AMA) session held on Reddit, Ethereum co-founder Vitalik Buterin advocated for a 33% increase in the Ethereum gas limit to enhance network throughput. Buterin's proposal comes after nearly three years of the gas limit remaining unchanged, marking the longest period of stability in the protocol's history.

Ethereum (ETH) is currently at a crossroads that could define its trajectory in the coming weeks. Renowned crypto analyst Michaël van de Poppe has shared a notably bullish perspective, highlighting Ethereum's approach to its 2022 low as a potential springboard for a breakout.

In the cryptocurrency market, the buzz around Bitcoin ETFs (exchange-traded funds) has been monumental. Yet, when it comes to Ethereum, the second-largest crypto by market capitalization, the excitement seems muted.

In the ever-evolving landscape of the cryptocurrency market, Ethereum (ETH) finds itself at a critical juncture, with renowned crypto analyst Michaël van de Poppe predicting a potential bullish breakout. In a recent tweet, van de Poppe conveyed his insights, indicating that Ethereum was approaching the low of 2022 and was likely to absorb liquidity at that level.