Ethereum ETF Comment from Cryptocurrency Company: Price Prediction is Exciting!

The experienced name of the cryptocurrency market touched upon the impact that spot Ethereum ETF approval could have.

Andrey Stoychev, Head of Nexo's Brokerage Unit, said that spot Ethereum ETF approval could push the price up to $10,000. While Stoychev stated that it would be difficult to give a date for approval, he reminded that this move of the SEC reflected positively on the market.

Ethereum ETFs in the US and similar products in Asia could be the driving force that helps the asset reach $10,000 by the end of 2024 and match Bitcoin's post-ETF performance.

In addition to this movement flow, he stated that the US presidential elections to be held in November will have an impact on the cryptocurrency market:

This change in perception towards Ethereum ETFs may indicate a change in the SEC's stance. A speculative reason for this could be the upcoming US presidential elections, which highlight that crypto users could play a decisive role, especially in states whose outcome is uncertain.