Ethereum ETF Speculation and Bitcoin Halving: Market Trends Ahead
Singapore-based crypto asset trading firm QCP Capital reports that speculation surrounding Ethereum’s (ETH) possible U.S. exchange-traded fund (ETF) approval could lead to significant gains in the near future. This is because the crypto market remains sensitive to global events that could affect its trajectory.
The company’s latest market report highlights that Bitcoin is on the verge of its halving in just three months, a historic moment for the cryptocurrency. Meanwhile, the potential approval of an ETH spot ETF starting in May is being labeled as the next big crypto event.
Ethereum spot ETFs are gaining momentum, especially after recent supportive comments from BlackRock CEO Larry Fink, who sees value in owning an Ethereum ETF and believes in moving towards the token trend.
At the time of the report, Ethereum was trading at $2,527, up about 59% in three months. The upcoming U.S. presidential election in November 2024 is also considered a key event that may affect the development trajectory and regulatory stance of the crypto industry.
Additionally, industry leaders expect the election results could have a significant impact on cryptocurrency priorities and regulatory approaches. Meanwhile, the U.S. Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin ETF last week sparked media interest and ongoing debate, while perceptions of Bitcoin as a deflationary asset and store of wealth are growing.
