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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