Expectations High for Ethereum ETF Approval and Price Surge

Matrixport expects SEC approval for Ethereum ETFs this week, akin to past swift approvals. Major firms like BlackRock and Fidelity prepare S-1 filings, anticipating ETH's price could double.

SEC briefly delayed ETFs for revisions, setting a July 8 deadline for amended filings. Minimal revisions suggest trading may start within two weeks.

Matrixport forecasts ETH could hit $3,400 post-approval, citing historical 20% gains from similar filings, boosting investor confidence.

#Matrixport 📈Today-Jul 8: SEC Will Likely Approve #ETH ETF This Week#CryptoFinance #cryptocurrency #Crypto #SEC pic.twitter.com/83WVrVjrOZ

— Matrixport Official English (@Matrixport_EN) July 8, 2024

Bernstein targets $6,600 for Ethereum, buoyed by ETF optimism and past BTC surges after regulatory nods.

ETH trades around $3,030, up 2%, with a 57% surge in trading volume, reflecting anticipation for SEC decisions.

Approval could bolster sentiment; delay may dampen buyer interest and affect broader market trends.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.