Will Ethereum Skyrocket After SEC Approves Spot ETFs?

The cryptocurrency sector anticipates a breakthrough with potential SEC approval of Ethereum ETFs, expected this week.

Matrixport experts suggest a pivotal moment for Ethereum and the broader market.

SEC’s recent greenlight for Form 19-b filings by major firms like BlackRock, Fidelity, and Grayscale fueled optimism. They aim for swift approval, with trading potentially starting within two weeks post-approval.

Nate Geraci of ETFstore notes minor SEC adjustments in S-1 reviews, signaling efficiency. Bloomberg analysts project approval by July 15, aligning with bullish Ethereum sentiment.

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Matrixport predicts Ethereum’s potential rebound to $3,400 upon approval, boosting investor confidence.

Despite a bearish climate, Bernstein sets a long-term Ethereum target of $6,600, buoyed by institutional interest and ETF prospects.

At the time of writing Ethereum is trading at $3,085, after a 0.9% price increase in the past 24 hours and $19.94 billion in volume.

Key levels are $2,900 support and $3,100 resistance, crucial for price 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.