- ETH surged to $3,717 over the past day, one of its highest levels in over a month.
- Experts believe the optimism stems from discussions between ETF issuers and the SEC.
- However, prominent analysts warn of potential rejection of ETH spot ETF applications.
Ethereum has surged to one of its highest levels in over a month as anticipation grows around the possibility of U.S. exchange-traded funds (ETFs) for the digital asset. Within the last 24 hours, Ethereum has hit a high of $3,717, soaring by over 8.2% from a low of $3,435. Notably, ETH crashed to as low as $3,111 in March.
Edward Chin, co-founder of Parataxis Capital, suggests the optimism surrounding Ethereum’s price surge stems from discussions between ETF issuers and the U.S. Securities and Exchange Commission (SEC). Chin remarked,
There’s been some chatter about Ether ETF issuers meeting with the U.S. Securities and Exchange Commission.
Despite the SEC’s historical skepticism towards cryptocurrencies, especially regarding their classification as securities, the success of Bitcoin spot ETFs launched earlier this year has fueled hopes for…
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