Ethereum ETF Approval Likely To Boost ETH Prices

By: Eliza Bennet

According to unnamed sources cited by Fox Business, the U.S. Securities and Exchange Commission (SEC) appears poised to approve Ethereum ETFs, marking a significant step for the cryptocurrency. The SEC's decision is reportedly influenced by recent court rulings and the agency's previous approval of Ethereum futures ETFs.

Consequently, the market has responded positively. On Tuesday, investors bought over 100,000 Ether (ETH) in spot markets, marking the highest single-day purchase since September 2023. Analysts predict that the approval could spur a 60% rally in ETH prices, reflecting growing investor confidence.