Ethereum Surprised Everyone: How Will the Price Change?

Analysts think the Ethereum price will still rise despite the approval of ETFs.

The U.S. Securities and Exchange Commission (SEC) unexpectedly approved 19b-4 filings for spot Ethereum ETFs last week. This led to a significant increase in the number of open Ethereum positions in the market.

However, before ETFs can enter the market, their S-1 filings must also be approved, and according to analysts, this may take weeks or months.

Arthur Cheong, one of the founders of DeFiance Capital, thinks that the ETF news in Ethereum "has not yet been reflected in the price". Cheong said, “It is impossible for the market to have reflected such a huge change in expectations and positions in the price in just a few days.” "The price was almost unchanged 12 hours after this news was heard," he said.

GSR analyst Brian Rudick defended the same view. “All else remaining the same, the price of Ethereum will likely vary based on the amount of money entering Ethereum ETFs since they were established,” Rudick said.