The Ethereum Spot ETF: The other major turning point for the crypto market

Now that the approval of the Bitcoin Spot ETF has come to fruition, The Ethereum Spot ETF is starting to attract interest from the crypto community. A perspective that would only be beneficial for the ecosystem around the 2nd largest crypto on the market.

Towards the resumption of investor enthusiasm for Ethereum?

Famous YouTuber Crypto Rover echoed a showing involving Ethereum. According to it, the emergence of an Ethereum Spot ETF will be the next major event in the crypto industry.

Crypto Rover predicts a shift in market craze from bitcoin (BTC) to Ethereum.

This perspective would change the current dynamics of the Ethereum ecosystem which is currently facing a lack of attention from the crypto community. A situation he attributes to the recent surge in Solana SOL prices which increased by 360% in 90 days.

Meanwhile, Ethereum saw a more modest increase of 48% over the same period. But some traders believe that the situation will soon change, driven by a significant influx of capital in anticipation of a spot ETF.

At the dawn of a pivotal stage?

For crypto analyst Michaël van de Poppe, the prospects for ETH are somewhat certain. According to him, the asset is in a decisive situation which could result in a significant surge in its valuation.

According to the expert, this prospect would trigger a liquidation candle on the ETH/BTC trading chart. Which is concretely an indicator of a strong price fluctuation, followed by a shift of investor funds towards Ethereum.

Currently, Ethereum’s Ether (ETH) is valued at over $2,500. The crypto saw a decline of 5.6% over the past 24 hours, but an increase of over 13% over the week. An increase supported by a notable improvement in the volume of transactions of 36.14%, to 12.48 billion dollars.

James Seyffart, an expert on ETF issues, notes some interesting developments for Ethereum. Namely, the SEC’s approval of Ethereum futures and the CFTC’s designation of ETH as a commodity. To him, these are signs that Ethereum spot ETF could emerge this year.

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