Franklin

Terra

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Ether’s price has reached $4,000 for the first time in over two years.</li>
 <li>Speculation is rife about the possible approval of spot ether exchange-traded funds (ETFs) in the U.S.</li>
</ul>
<p>Ether’s price has hit $4,000, a milestone it hasn’t reached in over two years.</p>
<p>This surge in price has occurred amidst speculation that spot ether ETFs could soon be approved in the United States.</p>
<h2 id="ether-s-recent-performance">Ether’s Recent Performance</h2>
<p>The second-largest cryptocurrency by market cap, <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>, has seen a 4% increase in the last 24 hours, a 15% rise over the past week, and a 68% growth over the past month.</p>
<p>The last time Ether traded at this level was in December 2021, shortly after it hit an all-time high of $4,868 on <a href="https://crypto.ro/en/exchange/gdax/" rel="noopener noreferrer nofollow">Coinbase</a>.</p>
<p>Ether then fell 82% to a bear market low of $880 in June 2022, influenced by turmoil in the crypto market, including the collapse of the Terra ecosystem and the subsequent bankruptcy of a crypto exchange.</p>
<p>In the meantime, the GM 30 Index, which represents a selection of the top 30 cryptocurrencies, has increased by 3% to 150.04 over the last 24 hours.</p>
<h2 id="speculation-around-spot-ether-etfs">Speculation Around Spot Ether ETFs</h2>
<p>Following the successful launch of spot bitcoin ETFs in January, focus has shifted to the potential for a spot ether ETF in the U.S.</p>
<p>Major firms such as Fidelity, BlackRock, and Franklin Templeton have applied for a spot ether ETF over the past few months.</p>
<p>This speculation has seen Ether’s price outperform <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>‘s in 2024, registering 73% year-to-date gains compared to Bitcoin’s 60%.</p>
<p>Despite this, there are differing opinions on the likelihood of a spot ether ETF approval.</p>
<p>Some analysts suggest a 70% possibility for approval by May 23, while others believe the SEC is unlikely to approve spot ether ETFs soon, with a 50% chance of approval by May at most.</p>
<p>Further uncertainties remain surrounding spot ether ETF approvals, given the stance that cryptocurrencies other than Bitcoin are securities.</p>
<p>Regardless, the crypto community continues to watch and speculate on the potential for a spot ether ETF approval.</p>

Ether’s Soaring Value: Crosses $4,000 Mark After a Two-Year Hiatus

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