Bloomberg stock analyst James Seyffart made a bet of 4 ETH, stating that the SEC will not approve spot Ethereum ETFs in March.
This was a response to a rumor circulating among traders, including one with 952,000 subscribers under the username Ash Crypto.
The rumor claimed that there may be registrations for these products by the end of March, but Seyffart strongly believes this will not happen.
He reminded traders that similar rumors have been circulated in the past, such as the anticipated approval of a Bitcoin ETF in December 2023, which ended up being postponed due to document updates and eventually rescheduled for January.
Seyffart’s response was further prompted by the fact that several people had forwarded or tagged him in the post.
He publicly stated that the rumor is not true. In reaction to this rumor, the price of Ethereum reached a local high of $2930, with a 3.3% increase in the past 24 hours compared to a 0.6% increase in Bitcoin’s price, according to data from CoinGecko.
