The trader sees a $6,000 price $ETH behind the ETF's green light.

Considering where Ether price action might head in the event of an agreement, trading firm QCP Capital puts the upside potential at 60%.

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"We think approval is now very likely with trade expected early next week," he wrote as part of his latest update for Telegram channel subscribers.

The 60% higher target of the current spot price - around $6,000 - is based on Bitcoin's performance in the months following the US spot ETF itself in January.

Popular trader Jelle, meanwhile, is one of many assuming that the stars will align for Ether bulls on the day.

"ETF decision this afternoon, but the charts seem to know the outcome. Higher," he wrote in part of X's post on the topic.

An ETF decision announcement is expected around 8:30 p.m. UTC.