News View Non-AMP

Ethereum Price Post Spot ETF Approval: Surge or Fizzle?

Published by
Sohrab Khawas

After a decade of anticipation, rejections, and delays, the United States Securities and Exchange Commission (SEC) has finally approved a dozen spot Bitcoin ETFs, marking a significant milestone for the cryptocurrency market in 2024. This long-awaited approval has led to a surge in Bitcoin’s price, driven by increased interest from traditional investors eyeing these products.

With the Bitcoin ETFs paving the way, major players in the cryptocurrency world like Blackrock and Fidelity are actively seeking approval for their ETF applications with the SEC. However, hopes for Spot Ethereum ETF approvals have dwindled, contrary to earlier projections expecting SEC approval by May 2024.

Ethereum’s Status in Question

Recent reports from Fortune suggest that the SEC is contemplating an investigation to potentially classify Ether, the native currency of the Ethereum network, as a security. This investigation has led organizations associated with the Ethereum Foundation to receive subpoenas requesting detailed documentation and financial records.

As a result, applicants such as Hashdex and ARK 21 Shares find themselves in limbo, awaiting the SEC’s final decision expected in May. While Bitcoin ETFs have overcome regulatory hurdles, Ethereum ETFs face an uncertain regulatory landscape.

Read More: ConsenSys Makes Strong Case for Ethereum ETF, Citing Security Edge

Understanding the ETF Impact

Amid ongoing speculation about the fate of Ethereum ETFs, industry experts are analyzing the potential impact on Ethereum’s price dynamics. Opinions vary, with some dismissing Ethereum ETFs as underwhelming while others remain uncertain about the token’s price movement post-ETF introduction.

Looking back at the immediate impact of the Bitcoin ETF approval on Ether’s price, which surged to its highest level since May 2022, it’s reasonable to anticipate a similar bullish trend upon Ethereum ETF approval. Approval of an Ethereum ETF could serve as a catalyst for significant upward movement in Ethereum’s price in 2024.

Also Read: April’s Most Anticipated Crypto Events Revealed: Here’s What’s in Store

Institutionalization Awaits

Similar to the Bitcoin ETF, approval of an Ethereum ETF would stimulate speculative interest and broaden access for both retail and institutional investors. This influx of interest is expected to drive increased demand, marking a significant step towards Ethereum’s institutionalization.

Regulatory clarity accompanying ETF approval would provide a solid foundation for Ethereum’s continued growth, fostering innovation and boosting investor confidence.

Ethereum Price Analysis

According to Coinpedia Markets, Ethereum is trading at $3,502.58, with a 4.91% decline within a 24-hour window. Despite this, technical indicators show a bullish 89% market sentiment for Ethereum, with the Fear & Greed Index scoring at 75. Should the Ethereum ETF receive approval, it could reshape the crypto landscape in 2024.

Approval of an Ethereum ETF holds great promise, not only for the token’s price trajectory but also for its broader institutional adoption and the maturation of the cryptocurrency market.

Will Ethereum follow Bitcoin’s lead? Tell us what you think.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Polkadot Price Prediction 2025, 2026 – 2030: Will DOT Price Cross $10?

Story Highlights The live price of the Polkadot crypto token is . Polkadot price can…

June 27, 2025

Toncoin Price Prediction 2025, 2026 – 2030: Will TON Price Reach $10?

Story Highlights The live price of the TON token is Toncoin price could hit a…

June 27, 2025

Pi Network Mainnet, KYC Fixes, and More — What to Expect on Pi2Day

With Pi2Day just around the corner, the Pi Network community is buzzing with hopes and…

June 27, 2025

WazirX Hearing Rescheduled to July 15: Singapore Court Sparks New Hope

The Singapore High Court has rescheduled WazirX’s next hearing in case HC/SUM 940/2025 to July…

June 27, 2025

Binance Coin BNB Price Prediction 2025, 2026 – 2030: Will BNB Hit New ATH?

Story Highlights Binance Coin Price Today is . The BNB price prediction anticipates a potential…

June 27, 2025

Analysts Say Mutuum Finance (MUTM) Could Be The Next Crypto To Hit $1 Before Dogecoin (DOGE)

Analysts are spotlighting Mutuum Finance (MUTM) as the next crypto to hit $1 before Dogecoin…

June 27, 2025