Zhu Su: The delay in approving the Ethereum ETF is the most bullish catalyst in the long cycle

Zhu Su posted on the X platform stating that the delay in approving Ethereum ETF is the most bullish catalyst in a long cycle. This view is somewhat ironic because once the spot Ethereum ETF is approved for listing, it may lead to an ETH redemption flow, which could potentially result in a short-term downturn as currently seen in the ETF market. At the same time, it would also reduce the number of possible "catalysts" in future.