Ethereum

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Verge

Green Light

<p>The crypto community holds its breath as the SEC’s approval of Ethereum ETFs seems imminent. Matrixport expects a favorable decision this week. The stakes are high: validation of the ETFs could propel Ethereum to new heights and bolster confidence in the cryptocurrency market.</p>
<h2 id="h-the-sec-is-ready-to-give-the-green-light-to-ethereum-etfs">The SEC is Ready to Give the Green Light to Ethereum ETFs</h2>
<p>The wait for the <a href="https://www.cointribune.com/en/crypto-ethereum-etfs-launch-delayed-again/" target="_blank" rel="noopener noreferrer nofollow">SEC’s approval of Ethereum ETFs</a> is sparking significant interest in the crypto world. Matrixport, a key player in the sector, claims that the probability of swift approval is high, based on precedents of rapid SEC approvals. Investors remember that the SEC has recently approved Form 19-b filings with unusual speed, fueling current optimism.</p>
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<p>Financial giants such as BlackRock, Fidelity, and Grayscale are already preparing to submit their S-1 forms, anticipating that ETF approval could come sooner than expected. This perspective is reinforced by statements from Nate Geraci, President of ETFstore, who noted that the adjustments requested by the SEC in previous reviews were minor. <a href="https://coinpedia.org/news/matrixport-expects-swift-sec-approval-for-ethereum-etfs-this-week/" target="_blank" rel="noopener noreferrer nofollow">According to him</a>, this suggests that ETFs could begin trading within two weeks of approval. Bloomberg experts even predict approval as early as July 15.</p>
<h2 id="h-growth-prospects-for-eth-with-etfs">Growth Prospects for ETH with ETFs</h2>
<p>The approval of Ethereum ETFs by the SEC could have profound repercussions on the crypto market. Matrixport anticipates a significant rise in Ethereum’s price, potentially up to 3,400 USD following this approval. This forecast is based on an analysis of historical price movements, where substantial increases followed similar SEC decisions. Investor confidence and market activity are likely to intensify with the launch of ETFs, creating an environment conducive to price increases.</p>
<p>Despite the current bearish market context, Bernstein, an asset management firm, has set a long-term price target of 6,600 USD for Ethereum. This optimism relies on growing institutional interest and the potential for post-approval ETF growth. Historical precedents show that assets like Bitcoin have experienced significant rallies after comparable regulatory approvals, reinforcing the belief that Ethereum could follow a similar trajectory.</p>
<p>Currently, Ethereum is trading around <a href="https://www.cointribune.com/en/crypto-markets/ethereum-eth-en/" target="_blank" rel="noopener noreferrer nofollow">3,000 USD</a>, with a trading volume up 57% in the last 24 hours. These figures indicate renewed interest and increased speculative activity as investors anticipate imminent regulatory decisions. The critical levels to watch are the support at 2,900 USD and the resistance at 3,100 USD, whose respective breaks could signal significant price movements.</p>

Crypto: SEC on the Verge of Approving Ethereum ETFs

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