Ethereum’s price witnessed a significant surge following the approval of spot Bitcoin exchange-traded funds (ETFs) in the US. This surge has reignited speculation on the possibility of a spot Ethereum ETF being approved in the future. After the approval of 11 spot Bitcoin ETFs by the SEC, Ethereum’s price soared by over 10%, reaching around $2,600 per ETH. Excitement in the market has been fueled by companies like Ark 21 Shares, VanEck, and BlackRock, which have already filed to list spot Ethereum ETFs, similar to their spot Bitcoin ETFs. For Ark 21 Shares and VanEck, the deadline for the SEC’s decision on spot Ethereum ETFs is set for May 23rd. Experts believe that spot cryptocurrency ETFs could attract institutional and retail investors who want exposure to digital assets without directly dealing with exchanges or private keys. The recent price rise in Ethereum indicates that investors anticipate the launch of spot ETFs for the cryptocurrency. Additionally, Ethereum’s co-founder, Vitalik Buterin, has recently defended increasing the network’s gas limit, emphasizing its stability and the need for a sensible increase to meet growing demand.
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Ethereum’s Price Soars as Bitcoin Spot ETFs Launch; Ether ETFs on the Horizon?
