Experts Now Give 75% Chance of Ethereum ETF Approval: ETH Soars 20% in Just 1 Day

Experts Now Give 75% Chance of Ethereum ETF Approval: ETH Soars 20% in Just 1 Day
Table of Contents


  • Ethereum’s Price Surge: Ethereum (ETH) has reached a two-month high of $3,700, with a 22% increase in just one day, as the market reacts to a 75% chance of a spot Ethereum ETF approval, potentially pushing ETH to $4,000 soon.
  • Regulatory Shifts: The SEC’s call for updated ETF filings and the market’s significant trading volume hint at a regulatory shift, with the possibility of Ethereum becoming the second digital asset with a spot ETF in the U.S.
  • Political and Market Impact: The potential approval of an Ethereum ETF is stirring both the crypto market and political landscape, with President Biden’s stance on crypto under scrutiny as the decision could signal a broader acceptance of digital assets.

The cryptocurrency world is on the edge of its seat as the Ethereum (ETH) price has skyrocketed to a two-month high of $3,700, with the coin currently trading at $3,784. This surge comes amid a significant boost in expectations for the approval of a spot Ethereum ETF, with analysts now giving it a 75% chance of passing.

The optimism has propelled ETH’s value by more than 22% in the last 24 hours, and analysts are eyeing a $4K price point by the end of the week. Ethereum’s rally is not just a number—it’s a beacon of hope for the crypto community, signaling a potential shift in the regulatory landscape. 

The SEC’s recent actions, including a request for exchanges to update their filings, have been interpreted as a green light for the ETF’s approval. This move could pave the way for Ethereum to become the second digital asset with a spot ETF in the United States, following Bitcoin’s lead.

Regulatory Winds Shifting?

The anticipation of an Ethereum ETF has stirred the market, with the trading volume of Ethereum reaching a staggering $36 billion in the past 24 hours. The value of ETH has risen by 0.3% within the past hour and an impressive 22% since yesterday, marking a 25.9% increase from last week.

The SEC’s request for updated filings from exchanges like the NYSE and Nasdaq has sparked discussions about the political pressures possibly influencing the regulatory body. 

Nate Geraci, president of the ETF Store, suggests that the SEC might approve the exchange rule modifications separately from the fund registration, indicating a nuanced approach to the ETF’s approval.

The Road Ahead for Ethereum ETF

Experts Now Give 75% Chance of Ethereum ETF Approval: ETH Soars 20% in Just 1 Day

As the market eagerly awaits the SEC’s decision, expected on Thursday, May 23, Ethereum’s price is predicted to continue its upward trajectory. A positive outcome could see ETH breaking the $4,000 barrier, a milestone that would solidify its position as a leading cryptocurrency.

The ETH/BTC pair has also seen a significant uptick, even outperforming Bitcoin’s rally. This has led to a shift in the market, with some investors swapping Bitcoin for Ethereum. 

The spotlight on Ethereum is further intensified by the upcoming expirations of weekly and monthly ETH options, with Deribit recording an open interest of $867 million for May 24, which soars to $3.22 billion on May 31.

Political Implications for Crypto

The Ethereum ETF saga is more than just a financial story; it’s a political narrative that could influence President Biden’s stance on cryptocurrencies. With the election on the horizon, there’s speculation that Biden may soften his approach to crypto to align with voter sentiments, especially in light of Trump’s pro-crypto stance.

The crypto community is watching closely, as any policy change could have far-reaching implications for the future of digital assets. The Ethereum ETF decision is not just about investment opportunities; it’s a test of the administration’s willingness to embrace innovation and change in the financial sector.


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