10x Research: The market is waiting for the "signal" from the US SEC Chairman on warnings about cryptocurrency investment risks
PANews reported on May 23 that 10x Research posted on the X platform saying: "A few hours before the approval of Bitcoin spot ETF, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), tweeted that cryptocurrency investors should consider all potential risks before making any investments. Around 9 a.m. Eastern Time today, there may be a tweet providing more clear information about whether it is about to be approved. As SEC previously issued warning signals before listing ETFs related to cryptocurrency futures, January 2024 also clearly indicates that Bitcoin ETF will be approved."
10x Research further stated: "Today, the market will wait for similar 'warnings'. However, approval seems to be just a formality as Grayscale Ethereum Trust's discount has narrowed from -30% a week ago to only -8%. An 8% discount implies at least a 90% probability of approving an ETF. The trust manages assets worth $11 billion which is quite substantial and might see some outflows from investors cashing in profits. The key question remains when these ETFs will start trading if approved."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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