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