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.
Sui (SUI) surged 14% in the past 24 hours, reaching $4.26 as bullish technical patterns, Bitcoin’s rebound, and renewed ETF speculation pushed the altcoin higher.
Hedera Hashgraph (HBAR) is closely tracking its 2021 price behavior, according to crypto analyst Rekt Capital.
Stellar (XLM) is once again approaching a decisive technical moment after facing a familiar rejection at the $0.52 resistance zone.
The crypto market is showing signs of cautious optimism. While prices remain elevated, sentiment indicators and trading activity suggest investors are stepping back to reassess risks rather than diving in further.