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<a href="https://bitcoinworld.co.in/ethers-largest-surge-since-2022-driven-by-etf-approval-speculation/" title="Ether’s Largest Surge Since 2022 Driven By ETF Approval Speculation" rel="noopener noreferrer nofollow"></a>
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  <p><strong><a href="https://www.coinbackyard.com/cryptocurrency/genesis-bankruptcy-liquidation-plan/" rel="noopener noreferrer nofollow">Crypto prices</a></strong><span data-contrast="auto">&nbsp;soared recently, driven by hopes that US regulators will soon approve exchange-traded funds (ETFs) investing directly in Ether, the second-largest cryptocurrency. This marks a shift from the pessimism seen just a week ago.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p><span data-contrast="auto">The market enthusiasm surrounding the potential approval of Ether ETFs is reminiscent of the excitement that greeted the launch of similar Bitcoin funds earlier this year. Those funds helped propel Bitcoin to record highs.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
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  <h2 id="strong-key-takeaways-strong"><strong>Key Takeaways&nbsp;</strong></h2>
  <ul>
   <li><b><span data-contrast="auto">Significant Price Surge</span></b><span data-contrast="auto">: Ether jumped nearly 14%, the biggest gain since November 2022. Bitcoin also saw a notable rise.</span></li>
   <li><b><span data-contrast="auto">SEC Engagement</span></b><span data-contrast="auto">: The SEC contacted exchanges and potential ETF issuers to update necessary filings, indicating a potential shift towards approval.</span></li>
   <li><b><span data-contrast="auto">Approval Process</span></b><span data-contrast="auto">: ETF issuers need SEC approval for 19b-4 filings and S-1 registration statements, with a decision expected by May 23.</span></li>
   <li><b><span data-contrast="auto">Market Speculation</span></b><span data-contrast="auto">: Social media and traders are speculating on potential approval, driving market activity.</span></li>
   <li><b><span data-contrast="auto">Ether’s Role</span></b><span data-contrast="auto">: Ether is vital for the Ethereum blockchain, which supports decentralized financial services.</span></li>
   <li><b><span data-contrast="auto">Increased Approval Odds</span></b><span data-contrast="auto">: Analysts have raised the probability of spot-Ether ETF approval from 25% to 75%.</span></li>
   <li><b><span data-contrast="auto">Investor Caution</span></b><span data-contrast="auto">: Some investors remain cautious, expecting slower SEC action despite market anticipation.</span></li>
   <li><b><span data-contrast="auto">Background on Bitcoin ETFs</span></b><span data-contrast="auto">: Bitcoin ETFs have seen massive success, accumulating $58.8 billion in assets since their approval.</span></li>
   <li><b><span data-contrast="auto">Future of Ether ETFs</span></b><span data-contrast="auto">: Major firms like BlackRock and Fidelity are pushing for Ether ETFs, potentially broadening crypto’s investor base.</span></li>
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<p>&nbsp;</p>
<h2 id="strong-ether-and-bitcoin-prices-rise-strong"><strong>Ether and Bitcoin Prices Rise&nbsp;</strong></h2>
<p><span data-contrast="auto">On Monday,&nbsp;</span><a href="https://www.coinbackyard.com/cryptocurrency/decentralize-ethereum-staking/" rel="noopener noreferrer nofollow"><span data-contrast="none">Ether</span></a><span data-contrast="auto">&nbsp;surged nearly 14%, marking its biggest single-day increase since November 2022. By Tuesday morning in London, Ether was trading at $3,675. Bitcoin also experienced a significant rise, nearing $72,000, just shy of its mid-March all-time high of nearly $74,000.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
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  <h2 id="strong-signs-of-sec-movement-strong"><strong>Signs of SEC Movement&nbsp;</strong></h2>
  <p><span data-contrast="auto">The US&nbsp;</span><strong><a href="https://www.coinbackyard.com/cryptocurrency/ethereum-sec-investigation/" rel="noopener noreferrer nofollow">Securities &amp; Exchange Commission (SEC)</a></strong><span data-contrast="auto">&nbsp;has been in contact with at least one exchange and one potential spot-Ether ETF issuer. They were asked to update related 19b-4 filings, according to sources who requested anonymity. This development suggests that the chances of SEC approval may be improving, though approval is not guaranteed.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p>&nbsp;</p>
  <h2 id="strong-etf-approval-process-strong"><strong>ETF Approval Process&nbsp;</strong></h2>
  <p><span data-contrast="auto">For an ETF to launch, issuers must submit 19b-4 filings and obtain SEC approval for S-1 registration statements. A decision on at least one spot-Ether ETF application is expected by May 23. The SEC has not commented on individual filings.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p>&nbsp;</p>
  <h2 id="strong-market-reaction-and-speculation-strong"><strong>Market Reaction and Speculation&nbsp;</strong></h2>
  <p><span data-contrast="auto">Social media is abuzz with speculation about the potential approval. Chris Newhouse, an analyst at Cumberland Labs, noted that traders are scrambling to position themselves in anticipation of approval, as many had previously dismissed the possibility.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p>&nbsp;</p>
  <h2 id="strong-importance-of-ether-strong"><strong>Importance of Ether&nbsp;</strong></h2>
  <p><span data-contrast="auto">Ether is the native token of the Ethereum&nbsp;</span><strong><a href="https://www.coinbackyard.com/blockchain/trons-and-google-cloud-a-milestone-for-blockchain-technology/" rel="noopener noreferrer nofollow">blockchain</a></strong><span data-contrast="auto"><strong>,</strong>&nbsp;a crucial platform for decentralized financial services. The Ethereum network allows investors to trade, borrow, and lend via automated protocols rather than traditional intermediaries.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p>&nbsp;</p>
  <h2 id="strong-increasing-approval-odds-strong"><strong>Increasing Approval Odds&nbsp;</strong></h2>
  <p><span data-contrast="auto">On Monday, Bloomberg Intelligence ETF analyst Eric Balchunas and his colleague James Seyffart increased their estimated probability of spot-Ether ETF approval from 25% to 75%.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p><span data-contrast="auto">Some fund companies had anticipated rejection due to less robust private discussions with the SEC compared to those for spot-Bitcoin ETFs. This information came from sources who wished to remain anonymous.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p>&nbsp;</p>
  <h2 id="strong-caution-among-investors-strong"><strong>Caution Among Investors&nbsp;</strong></h2>
  <p><span data-contrast="auto">Despite the optimism, some investors remain cautious. Ravi Doshi, head of markets at FalconX, observed that many counterparties on their derivatives desk are skeptical, expecting the SEC to move more slowly than the market anticipates.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p>&nbsp;</p>
  <h2 id="strong-background-on-bitcoin-etfs-strong"><strong>Background on Bitcoin ETFs&nbsp;</strong></h2>
  <p><span data-contrast="auto">The SEC has been hesitant about crypto, but it approved US spot-Bitcoin ETFs earlier this year following a court reversal in 2023. These products, from firms like BlackRock Inc. and Fidelity Investments, have accumulated $58.8 billion in assets, making them one of the most successful fund categories.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p>&nbsp;</p>
  <h2 id="strong-ether-etf-applications-strong"><strong>Ether ETF Applications&nbsp;</strong></h2>
  <p><span data-contrast="auto">BlackRock and Fidelity are also seeking to launch Ether funds. The digital asset industry views ETFs as a means to expand crypto’s investor base. Bitcoin ETFs have already attracted investments from retail investors, hedge funds, pension funds, and banks.&nbsp;</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p><span data-contrast="auto">Notable buyers include Millennium Management, Steven Cohen’s Point72 Asset Management, and Elliott Investment Management.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:300,&quot;335559740&quot;:279}">&nbsp;</span></p>
  <p><span data-contrast="auto">This comprehensive overview highlights the current optimism and underlying caution in the crypto market as investors await SEC decisions on Ether ETFs.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335559738&quot;:300,&quot;335559739&quot;:0,&quot;335559740&quot;:279}">&nbsp;</span></p>
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<p>The post <a href="https://bitcoinworld.co.in/ethers-largest-surge-since-2022-driven-by-etf-approval-speculation/" rel="noopener noreferrer nofollow">Ether’s Largest Surge Since 2022 Driven By ETF Approval Speculation</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.</p>

Ether’s Largest Surge Since 2022 Driven By ETF Approval Speculation

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