It‘s been a huge week for Ethereum.
How huge, you may ask? Ethereum started the week with a market cap of around $370B and in less than 24 hours reached a valuation of over $450B.
That rise came equivalent to Solana’s entire capitalization…
ETH ripped up the charts to over $3,800 for a 30% rise from the depths of $3,000. which suspected that Ether’s stage is set.
The SEC approved eight spot Ethereum ETFs on Thursday. This monumental news comes after weeks of speculation and market anticipation. Here’s how it unraveled:
Ether's price surged over 10% after Bloomberg analysts increased their predicted chances of SEC approval for spot Ether ETFs from 25% to 75%.
The SEC requested Nasdaq, CBOE, and NYSE to revise their applications to list spot Ether ETFs, hinting at possible approval.
Major ETF issuers, including Fidelity and Ark Investment, have removed staking from their proposed spot Ether ETFs, aligning with regulatory concerns on centralization risks.
The SEC has approved Nasdaq, CBOE, and NYSE applications to list ether ETFs, surprising the industry. While final approval is still needed, this marks a major step towards trading these products.
Wish you all the best 🌹❤️👊⬆️🌳#PEPE #BONK🔥🔥 #KAFA_NETWORK
