QCP Capital Moves the Target Further in Ethereum: This Level is at the Door if Approval Is Not Received!

Cryptocurrency trading firm QCP Capital spoke about spot Ethereum ETFs.

In its report dated May 21, QCP Capital included what might happen if spot Ethereum exchange-traded funds (ETFs) are approved and disapproved.

It was noted that the cryptocurrency market, which became active after the US Securities and Exchange Commission (SEC) called on companies wishing to issue the spot Ethereum ETF on May 20 to "make arrangements quickly", could reach much better levels if approved.

Analysts predicted that Ethereum could first reach $4,000 and then $5,000 if approved, and noted that in case of rejection, there could be an "ugly drop" to $3,000.

On the other hand, analysts stated that the first spot Ethereum ETF deadline is May 23 for VanEck and said that volatility may increase in the next 1-2 days.