#ETHETFS Ethereum co-founder cashes out! Is now the time to sell your ETH?
🔹Ethereum’s price surged nearly 30%, coinciding with significant SEC regulatory updates.
🔸Co-founder Jeffrey Wilcke capitalized on the rally by depositing over $75 million worth of ETH into Kraken.
The cryptocurrency market has been buzzing with Ethereum’s [ETH] recent price surge.
🔹The asset witnessed a nearly 30% increase in value over the past week, escalating from below $3,000 as of this time last week to as high as $3,810 yesterday.
♦️This uptick coincided with significant regulatory movements.
🔸Notably, the U.S. Securities and Exchange Commission (SEC) has so far revised its stance on Ethereum spot ETFs, prompting exchanges to update their 19b-4 filings.
🔹This week, several Ethereum ETF issuers submitted their updated filings, with a decision on the VanEck Ethereum ETF application expected shortly.
🔸Institutions like Standard Chartered already predicted that an Ethereum ETF approval is imminent.
🔹Amid these regulatory developments, Ethereum’s co-founder Jeffrey Wilcke has made headlines for reportedly cashing out during this price rally.
