Ethereum Price Surges to Two-Month High After SEC Approves ETF Filings
Are you looking to invest in Ethereum? Well, now might be the perfect time to jump on board as Ethereum’s price has just reached a two-month high of over $3900! This surge in price comes hot on the heels of the US Securities and Exchange Commission’s approval of 19b-4 filings for eight spot exchange-traded funds (ETFs) related to the digital asset.
This positive news for Ethereum has not gone unnoticed, as experts are now speculating that ETH’s price could be headed towards a new all-time high. With the recent approval of Bitcoin ETFs causing a 70% surge in BTC prices, many believe that Ethereum could follow suit and see significant growth in the coming weeks.
One key figure supporting this bullish sentiment is MicroStrategy executive chairman Michael Saylor, who believes that the approval of an ETH ETF has further legitimized the cryptocurrency industry and will encourage more institutional adoption. Similarly, Arthur Cheong, founder of DeFiance Capital, has predicted that ETH’s price could reach $4,500 before the ETFs even begin trading.
But that’s not all – Ethereum’s upward trajectory could be further fueled by its upcoming Pectra upgrade, set to launch in the first quarter of next year. This major upgrade includes improvements to the Ethereum Virtual Machine (EVM) and aims to enhance user experience and security.
With all these positive developments on the horizon, it’s no wonder that banking giant JPMorgan has predicted that the Ethereum ETF will launch before the US presidential elections. So, if you’ve been thinking about investing in Ethereum, now might be the perfect time to take the plunge and potentially ride the wave of its price surge to new heights.
