Spot Ether ETFs officially approved by the SEC, so why isn’t ETH mooning?

There we have it: from near-certain denial just a week ago, the U.S. SEC has officially approved the 19b-4 filings for the spot Ether ETFs, giving the green light for them to begin trading. This unexpected news impacts crypto not just because Ether is confirmed to not be a security, with some heavy inflows expected, but also because many other tokens are now tacitly confirmed to not be securities. And yet, with all these reasons to be jubilant, the price of ETH is down. Let’s discuss why that might be.Further reading:Spot Ether ETFs receive official approval from the SECEthereum ETFs launch next month ‘certainly possible' — AnalystEthereum ETF approved, so why aren’t we rich yet?SEC’s ETF decision means ETH and ’a lot’ of other tokens are not securitiesBybit CEO refutes insolvency rumors, shares proof-of-reservesMeet the women behind the world’s largest crypto exchangesCrypto icon Kabosu, the Doge meme dog, passes away at 17So, grab yourself a coffee, and let’s get into it!Rise’n’Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn. Cointelegraph’s Twitter: @CointelegraphCointelegraph’s website: cointelegraph.comThe views, thoughts and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.