Michigan University Current Conditions Index Final Value in August in the United States

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SEC Likely to Reject Spot Ether ETFs in May, Says Van Eck The U.S. Securities and Exchange Commission (SEC) faces a May deadline to decide on the approval of spot Ethereum exchange-traded funds (ETFs), including applications from asset managers Vaneck and Ark Invest led by Cathie Wood. Several spot bitcoin ETF issuers, including Blackrock, the world’s largest asset manager, and Fidelity, have also filed to launch a spot ether ETF. Vaneck CEO Jan Van Eck told CNBC at the Paris Blockchain Week event Tuesday that he does not expect the SEC to approve spot ether ETF applications in May. He said: We were the first to file as well for ethereum in the U.S., and we and Ark, Cathie Wood, are kind of the first in line for May, I guess, to probably be rejected. “The way the legal process goes is the regulators will give you comments on your application, and that happened for weeks and weeks before the bitcoin ETFs, and right now, pins are dropping as far as Ethereum is concerned,” Van Eck added. The prospects for SEC approval of spot ether ETFs are facing increasing doubt. JPMorgan, for example, said last week that the SEC will likely approve spot ethereum ETFs after it rejects the applications in May and faces subsequent litigation, similar to what happened with the Grayscale Investments and Ripple legal battles last year. Coinshares CEO Jean-Marie Mognetti also expressed pessimism about the likelihood of such approval in the near future. He told CNBC on Tuesday: “We are observing the ethereum decision very, very closely.” Indicating that it may be difficult for a proof-of-stake protocol to gain SEC approval, he opined: I don’t see anything being approved this side of the year.

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3/ Institutional alignment is a critical part of this setup. Ripple has a direct stake in $EPIC's development, providing both credibility and strategic integration inside the XRP economy. This backing gives $EPIC an advantage few assets have at launch.

In the cryptocurrency market early this morning, Bitcoin (BTC) showed strong upward momentum. From the 1-hour candlestick chart, it can be observed that the BTC price is steadily climbing along the short-term moving average, forming a typical bullish arrangement. The technical indicator MACD maintains a strong trend above the zero axis, with the red bars continuously increasing, while the Trading Volume has also significantly risen, indicating that buying pressure is actively entering. In the current market situation, the upward trend of Bitcoin in the short term has become quite clear and is likely to continue to expand its upward space. According to market analysis, investors can pay attention to buying opportunities around $114,600, with an upward target price range between $115,200 and $115,800. At the same time, Ethereum (ETH) is also showing a strong upward trend. Analysts suggest considering building positions around $4,730, with an upward target range of $4,770 to $4,810. It is worth noting that the upcoming Jackson Hole Global Central Bank Annual Meeting may impact the cryptocurrency market. Investors should closely monitor the developments of the meeting and adjust their investment strategies accordingly. However, regardless of market fluctuations, it is important to remain rational and manage risks effectively.