The creator of the Tron blockchain, crypto billionaire Justin Sun, has acquired another large block of ETH as he can expect the SEC to grant permission to launch Ethereum spot ETFs in early July.
The creator of the Tron blockchain, crypto billionaire Justin Sun, has acquired another large block of ETH as he can expect the SEC to grant permission to launch Ethereum spot ETFs in early July.
Last year, Sun already purchased more than $1.1 billion worth of Ethereum, according to recently shared analytics data.
Justin Sun gets more ETH
The analysis account on large amount of Ethereum from Binance. It happened while ETH was trading at $3,472. This portion of ETH was valued at $16.07 million at the time the purchase was made.
The aforementioned data source shared that over the past three days, the same wallet belonging to the Tron creator purchased (at an average price of $3,494) and withdrew from Binance 13,967 ETH worth nearly $49 million.
A few days ago, @spotonchain shared with the crypto community that Justin Sun had made a massive deposit of Tron-USDT (89.57 million coins) on Binance and spent $32.9 million of that amount buying more Ethereum, which he then withdrew to her wallet.
In another tweet today, @spotonchain suggested that The sun may be “bullish” about the rumored launch of the Ethereum Spot ETF” next week.
Yuri MolchanEthereum ETF approval expected on July 2
As Guru-Investingreported, on Friday, Ethereum ETF spot issuers updated their S-1 filings with the SEC. Among the details made public, Franklin set its Ethereum ETF fees at 0.19%, while VanEck’s fees were announced to be 0.2%. Additionally, BlackRock revealed that an undisclosed major investor has pre-purchased $10 million worth of future Ethereum ETF shares.
Prior to this, Consensys spread the word that the securities regulator closed its investigation into the mechanics of Ethereum 2.0, thereby rejecting all rumors of U-turns to call ETH a security. This shift increased the chances of an Ethereum spot ETF being approved.
The SEC is expected to announce its positive decision on the matter on July 2, according to Bloomberg analysts.
