Ethereum Price Forecast With the SEC Approving Ethereum Exchange-Traded Funds (Ethereum ETFs), What's ETH's Next Move? - Source: CryptoNews The price of Ethereum (Ethereum-ETH) witnessed significant fluctuations in late trading on Thursday, after the news spread of the approval of the US Securities and Exchange Commission (SEC) to establish spot trading funds for Ethereum on the stock exchange (Ethereum Spot ETFs), and this approval was A major shift shocked the market, which was betting on rejection just one week ago.
Ethereum recently traded near $3,800, down sharply from its highs in the previous trading session near $4,000, but up from its lows in the same session at $3,520.
The price of Ethereum was volatile on Thursday following the approval of Ethereum Spot ETFs. Source: CoinMarketCap In a related context, the price of ETH rose by 24% within a week, as rumors of a change in the SECâs position appeared for the first time on Monday, and the days that followed witnessed joint action between the issuers of Ethereum ETFs and the US Securities and Exchange Commission (SEC).
All last week, traders bet on a rise in the price of Ethereum due to their confidence that these ETFs will cause the growth of the Ethereum technical ecosystem, and the plot of the story reached its climax on Thursday when the committee approved 8 ETFs for spot trading of Ethereum.
