An Ethereum exchange-traded fund (ETF) approval by the U.S. Securities and Exchanges Commission (SEC) is unlikely to happen soon, warns popular crypto analyst Michaël van de Poppe. Van de Poppe, who has a following of 715,800 on social media platform X, believes that traders may have to wait until August for the approval. Despite Ethereum currently being sold off, he believes that the chances of approval in August are positive and expects Ethereum to outperform. Van de Poppe sees the current turbulence in the crypto markets as an opportunity for investors. He advises buying altcoins during the correction and favors trading newer altcoins over the older ones. He points out that old coins like Polygon (MATIC) continue to provide poor returns, and suggests considering new coins for higher upward returns. MATIC has dropped 20% in the last month. Van de Poppe also attributes today’s Bitcoin rally and the wider altcoin bull run to the recent Federal Open Market Committee (FOMC) data, which indicates a decrease in the US dollar index and an increase in risk-on assets. Bitcoin is currently valued at $61,702, representing a 4% increase for the day.