Despite U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s warnings about the crypto space, making the possibility of Ethereum receiving approval for a Bitcoin-like ETF uncertain, Ethereum prices are still climbing, reaching levels not seen since 2022, CryptoPotato reported. The highest level since May. Notably, the approval of 11 Bitcoin ETF proposals follows the growth of Ethereum infrastructure projects. Projects built on the Ethereum platform have seen significant market capitalization growth as the SEC approved trading a Bitcoin ETF in the United States, ending more than a decade of rejection, according to new analysis from Santiment. Ethereum price rose 5% to $2,670, its highest level in the past 20 months. In addition, the price of ENS, the native token of Ethereum Name Service (ENS), rose by nearly 25% following the SEC’s decision on January 10, with a weekly increase of more than 86%, and is currently trading at $25.96. While the outlook for spot Ethereum exchange-traded funds (ETFs) remains unclear, the strong performance of Ethereum infrastructure projects following the approval of a Bitcoin ETF points to increased optimism within the ecosystem. The SEC is expected to make a decision on the approval of a spot Ethereum ETF starting in May. Heavyweights such as BlackRock, Invesco, Ark, VanEck and Grayscale are awaiting approval.