Ethereum

Spot

The anticipation surrounding the potential approval of a Spot&nbsp;Ethereum ETF by the U.S. SEC has taken the crypto market by storm&nbsp;in recent days.&nbsp;Notably,&nbsp;Ethereum’s&nbsp;price has surged past $3,900, reflecting the&nbsp;market’s&nbsp;optimism. Amid this, market experts predict a massive influx of institutional investments into Ethereum ETFs, potentially reaching $500 million in the first week post-approval.
<h2 id="span-data-preserver-spaces-true-institutional-investment-to-put-500m-into-ethereum-etfs-span">Institutional Investment To Put $500M Into Ethereum ETFs</h2>
Institutional investors are reportedly ready to inject $500 million into US Spot Ethereum ETFs upon <a rel="noopener noreferrer nofollow" href="https://www.dlnews.com/articles/markets/investors-will-pour-500m-into-ethereum-etfs-in-first-week/" target="_blank">SEC approval</a>.&nbsp;According to a report from DL News, this prediction comes from OKX, a leading <a href="https://coingape.com/glossary/Crypto-exchange-2/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange</a>,&nbsp;which highlighted&nbsp;the importance of this potential approval.&nbsp;
The report said that Lennix Lai,&nbsp;OKX’s&nbsp;global chief commercial officer, emphasized the significance of Ethereum trading under a traditional framework. Considering that, he believes&nbsp;that it&nbsp;could trigger the next wave of institutional demand.
Meanwhile, the&nbsp;SEC’s&nbsp;recent moves suggest a softening stance towards Ethereum ETFs, raising hopes for approval. Ethereum has seen significant gains this week, with major financial institutions like BlackRock, Invesco Galaxy, <a href="https://coingape.com/breaking-fidelity-slashes-staking-for-ethereum-etf-in-latest-s-1-amendment/" target="_blank" rel="noopener noreferrer nofollow">Fidelity</a>, and Franklin Templeton eagerly awaiting the&nbsp;SEC’s&nbsp;decision. Notably, VanEck, positioned first in line, anticipates a fair decision process, expecting&nbsp;any&nbsp;approval to extend to other applicants to maintain regulatory neutrality.
Also Read: <a href="https://coingape.com/coinbase-unveil-new-cryptos-on-perpetual-market-price-rally-ahead/" target="_blank" rel="noopener noreferrer nofollow">Coinbase Unveil New Cryptos On Perpetual Market, Price Rally Ahead?</a>
<h2 id="span-data-preserver-spaces-true-what-s-span-span-data-preserver-spaces-true-next-span">What’s&nbsp;Next?</h2>
The approval of <a href="https://coingape.com/blackrock-to-overtake-grayscale-amid-eight-days-of-bitcoin-etf-inflows/" target="_blank" rel="noopener noreferrer nofollow">U.S. Bitcoin ETFs</a> in January sparked a massive rally in the crypto market, with trading volumes exceeding $1.5 billion. Analysts expect a similar response for Ethereum ETFs. Bernstein analysts predict that&nbsp;Ether’s&nbsp;price could surge to $6,600 following ETF approval.&nbsp;
On the other hand, Jean-Baptiste Graftieaux, CEO of Bitstamp, noted that an Ethereum ETF would be a significant milestone.&nbsp;In addition, it would make it&nbsp;easy&nbsp;and cheaper for retail traders to gain exposure to Ethereum, as&nbsp;compared to Bitcoin ETFs.
Meanwhile, amid this, QCP Capital, in a recent report, echoed the bullish sentiment, predicting that&nbsp;Ethereum’s&nbsp;price could exceed $6,000 <a href="https://coingape.com/ethereum-price-qcp-predicts-eth-hit-6k-amid-ether-etf-optimism/" target="_blank" rel="noopener noreferrer nofollow">post-ETF approval</a>. Meanwhile, according to a recent report, the <a href="https://coingape.com/us-sec-begins-talks-ethereum-etf-s-1-registration-report/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> has initiated discussions over the S-1 Registration filings from key ETF issuers, indicating progress toward a decision.
As of writing, the <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum price</a> was up 5.41% and exchanged hands at $3,882.80,&nbsp;after touching a 24-hour high of $3,943.55&nbsp;recently.&nbsp;The second-largest crypto by market cap added over 20% over the last 30 days while noting a weekly gain of nearly 30%.
Also Read: <a href="https://coingape.com/toncoin-price-soars-3-amid-telegram-new-currency-announcement-heres-all/" target="_blank" rel="noopener noreferrer nofollow">Toncoin Price Soars 3% Amid Telegram’s New Currency Announcement, Here’s All</a>
The post <a href="https://coingape.com/us-spot-ethereum-etf-record-500m-influx-post-sec-approval/" rel="noopener noreferrer nofollow">US Spot Ethereum ETF To Record $500M Influx Post SEC Approval</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

US Spot Ethereum ETF To Record $500M Influx Post SEC Approval

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