Is the Approval of Ethereum ETFs Already Factored In?
As the approval of spot Ethereum ETFs draws near, the crypto community is speculating on how it might impact ETH’s performance. Notable investor Daan Crypto Trades has expressed his belief that the news regarding the approval of the S-1 form may not have a significant effect on Ethereum’s price.
- The investor compared this upcoming announcement to the 19b-4 approval news in May, which led to a surge in Ethereum’s price.
- Daan opined that the SEC’s approval is already factored into the market, and the real impact will be visible once the ETFs are live.
- There are expectations of potential outflows from Grayscale Ethereum Trust (ETHE) and an estimated 20% of the inflows seen by spot BTC ETFs.
Predictions of a 3x Rally for ETH in the Coming Year
Crypto analyst Jelle has shared his insights on Ethereum, foreseeing a potential rally that could see ETH retesting key resistance levels. As the ETFs’ approval draws closer, ETH is regaining market momentum and aiming to surpass significant price levels.
- Jelle anticipates that if Ethereum manages to hold its current position, it could target the $4,000 milestone in the near future.
- The analyst believes that Ethereum will outperform Bitcoin in the coming weeks, with the latter expected to experience a period of relative stability.
- Despite recent price fluctuations, some experts view ETH’s current price as a strategic opportunity for significant returns in the next 12 months.
Hot Take: Anticipating Ethereum’s Performance Amid ETF Approval
As Ethereum stands on the cusp of a potential ETF approval, market sentiment remains cautiously optimistic about the cryptocurrency’s price trajectory. With analysts predicting a surge in momentum for ETH, investors are closely watching for signs of a sustained bullish trend in the crypto market.
Sources: Daan Crypto Trades, Crypto Analyst Jelle, Crypto Analyst Poseidon
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