Ethereum

2024

<p>The post <a href="https://coinpedia.org/news/ethereum-price-prediction-how-high-can-eth-price-rally-in-2024-with-etf-approval/" rel="noopener noreferrer nofollow">Ethereum Price Prediction: How High Can ETH Price Rally in 2024 With ETF Approval</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In a landmark move for the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has approved the listing of spot Ethereum ETFs on major exchanges such as NASDAQ and NYSE. This decision, lauded as a significant step forward, positions Ethereum as the “digital oil” in the crypto landscape, akin to Bitcoin’s status as “digital gold.”</p>
<p>However they are still lagging behind Bitcoin, On May 24, the <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">total net inflow</a> of Bitcoin spot ETFs was US$252 million, with inflows for ten consecutive days. Grayscale ETF GBTC had a single-day inflow and outflow of $0.00, BlackRock ETF IBIT had an inflow of $182 million, and Fidelity ETF FBTC had an inflow of $43.7083 million.</p>
<h2 class="wp-block-heading" id="h-big-players-can-change-the-outcome"><strong>Big Players Can Change the Outcome</strong></h2>
<p>Interestingly industry giants like BlackRock are ready to promote Ethereum to their expansive investor base, the approval is expected to drive mainstream adoption. This development signifies a pivotal moment, potentially bringing Ethereum closer to the forefront of the public eye.</p>
<h2 class="wp-block-heading" id="h-two-step-approval-process"><strong>Two-Step Approval Process</strong></h2>
<p>Next to follow will be the 2-step process. Despite the excitement, it’s important to note that trading won’t commence immediately. The SEC has approved the listing of these ETFs, but individual ETF registration statements still require approval. This two-step process involves both listing approval, which has been completed, and product approval, which remains pending. As a result, actual trading might still be weeks or even months away, mirroring the approval process for Bitcoin ETFs.</p>
<p>Aeron from Altcoin Daily <a href="https://www.youtube.com/watch?v=NTpKjj3bzIQ" rel="noopener noreferrer nofollow">suggests </a>that the sudden approval could be politically motivated, with both presidential candidates seeking the crypto community’s support. This swift, somewhat unexpected decision may reflect strategic moves in an election year, indicating the growing influence of the cryptocurrency sector in political arenas.</p>
<h2 class="wp-block-heading" id="h-crypto-impact"><strong>Crypto Impact</strong></h2>
<p>Before the SEC’s announcement, Ethereum’s price saw a lot of ups and downs. It first dropped to $3,500, then surged to nearly $3,900 on rumors of ETF approval, finally settling above $3,800 after confirmation. Despite the good news, Ethereum is still below its all-time high of $4,800 from November 2021, with current prices around $3,700.</p>
<p>Aeron points out that this approval brings regulatory clarity, which could help Ethereum reach those highs again. Additionally, with Ethereum balances on exchanges at their lowest, the anticipated demand from ETFs might push prices up even further.</p>
<p>Looking ahead, Aeron is very optimistic about Ethereum’s future. He predicts that Ethereum could increase 3 to 4 times in value over the next year and a half, potentially reaching between $11,000 and $15,000 per coin. This bullish outlook highlights the transformative potential of the recent ETF approval.</p>

Ethereum Price Prediction: How High Can ETH Price Rally in 2024 With ETF Approval

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