Ethereum Surges Above $3.3K Amid Growing ETF Approval Speculation
YEREVAN (CoinChapter.com)
Ethereum (ETH) has surged past $3,300, driven by expectations of spot Ethereum exchange-traded funds (ETFs) launching soon.
Trading at $3,331, Ether has rallied 16% from $2,909 over the past week, according to TradingView.
Nate Geraci Predicts Imminent ETF Approval
Nate Geraci, ETF analyst and president of The ETF Store, forecasts that eight spot ETH ETFs could be approved by week’s end.
He sees no reason for the SEC to delay any further.
Several issuers, including VanEck and 21Shares, have filed amended registrations, awaiting final SEC approval.
Tom Dunleavy Foresees $10 Billion Inflow
Tom Dunleavy, managing partner at MV Global, anticipates up to $10 billion in new inflows following the ETF launches, potentially driving ETH to new all-time highs by year-end.
He believes Ether ETFs are more appealing to Wall Street than Bitcoin ETFs due to Ether's attributes such as cash flows and its description as the “app store of crypto.”
Crypto Community Awaits ETF Approval
The crypto community is optimistic about the potential approval of spot ETH ETFs, with industry experts like Anthony Sassano highlighting the expected strong buy pressure.
At the time of writing, Ether was trading near $3,350, reflecting a 4.33% increase over the past 24 hours, with a market cap of $403.2 billion and a 24-hour trading volume up 30.57% to $13.2 billion.
