Ethereum’s native token, Ether (ETH), has surged past the $3,300 mark, riding a wave of optimism surrounding the potential approval of spot Ethereum exchange-traded funds (ETFs) this week. The cryptocurrency has seen a remarkable 16% rally in the past seven days, climbing from $2,909 to its current trading price of $3,331, according to TradingView data.
The anticipation of ETH ETF approvals has been fueled by industry experts like Nate Geraci, ETF analyst and president of The ETF Store, who predicts that the eight spot ETH ETFs could launch by the end of this week. Geraci’s sentiment is echoed by anonymous sources close to the proceedings, suggesting that the U.S. Securities and Exchange Commission (SEC) may give the final nod to these funds imminently. This optimism is further reinforced by recent amended registrations filed by issuers such as VanEck and 21Shares, indicating their readiness for potential approval.
The launch of spot Ethereum ETFs is widely regarded as a potential game-changer for the cryptocurrency market. Tom Dunleavy, a managing partner at crypto investment firm MV Global, projects that these funds could attract up to $10 billion in new inflows within months of their launch, potentially driving Ether prices to new all-time highs by year-end. Interestingly, Dunleavy also posits that Ethereum ETFs might be an “easier sell” to Wall Street compared to itcoin">Bitcoin ETFs, citing ETH’s clearer narrative as a tech stock or “internet bond” with tangible cash flows. This perspective challenges the popular notion among ETF analysts and suggests that Ethereum’s recent price lag relative to itcoin">Bitcoin could quickly reverse following the ETFs’ launch.
