Ethereum has seen a significant price jump, surpassing $3,300, driven by the excitement surrounding the potential approval of spot Ether exchange-traded funds (ETFs) by the end of this week. According to Nate Geraci, an ETF analyst, there’s no good reason for any further delays in the launch of these ETFs. This sentiment is echoed by an anonymous source close to the proceedings, indicating a high probability of approval soon.
Several major issuers, including VanEck and 21Shares, have recently amended their registrations in hopes of receiving the SEC’s final approval to start listing these spot Ether ETFs. Analysts believe that the introduction of these ETFs could act as a major catalyst for ETH prices, possibly attracting up to $10 billion in new investments, according to Tom Dunleavy from MV Global. He suggests that these ETFs might even be an easier sell to Wall Street compared to Bitcoin ETFs, thanks to Ethereum’s unique attributes like cash flows and its role as the “app store of crypto.”
The anticipated inflow of capital and the clear, relatable narrative around Ethereum could drive its prices to new all-time highs by the end of the year. Despite ETH’s price lagging behind Bitcoin over the past 18 months, the launch of these ETFs could trigger a significant rebound.
