Ethereum’s unique addresses are witnessing a rise, which comes after the SEC hinted that it will approve an Ethereum ETF application by October.


The Ethereum network has seen a staggering surge, with more than 467,000 unique address interactions in a single day, Santiment reports, marking the highest level of activity since the exchange-traded fund (ETF) announcement frenzy began on June 16.

After ETH ETF submission, ETH unique address increases

This surge in activity comes in anticipation of the potential approval of an Ethereum ETF by the U.S. Securities and Exchange Commission (SEC). The ETF is a sign that cryptocurrencies are becoming more widely accepted, and it has the potential to make it easier for institutions and ordinary investors to buy Ethereum (ETH) and other cryptocurrencies.

Increased activity due to widespread adoption often increases the value of an asset. ETH is trading at $1,639.36, up 0.36% in the past 24 hours.


In its latest SEC filing on August 24, Ark Invest and 21Shares were listed as subadvisers on a joint Ethereum ETF product. The document emphasizes that Ethereum’s future value depends on its widespread adoption, stressing that any changes in this regard could have a significant impact on its price.

The recent emergence of the possibility that the SEC could approve the launch of an Ethereum ETF as early as October has added to the market frenzy. Further fueling optimism, a recent report from Bloomberg suggested that the U.S. Securities and Exchange Commission is leaning toward allowing the first exchange-traded funds based on Ethereum futures. This forward-thinking move is seen as a major win by many businesses that have long sought opportunities to offer such products.

It is worth noting that nearly a dozen companies, including Volatility Shares Trust, Bitwise Ethereum Strategy ETF, Roundhill Ethereum Strategy ETF, VanEck Ethereum Strategy ETF, ProShares Short Ethereum Strategy ETF and Grayscale Ethereum Futures ETF, are waiting for SEC approval. . However, Bitwise has submitted a request to withdraw its application for a Bitcoin and Ethereum market cap strategy ETF.

ETH has a bright future

The surge in unique address interactions on the Ethereum network is more than just a statistical blip; it’s a strong indicator of increased utility. In the cryptocurrency world, the value of assets like Ethereum is intrinsically linked to its utility.

As the SEC’s decision on the Ethereum ETF approaches, the cryptocurrency community anxiously anticipates potential investor inflows and additional activity that could further boost Ethereum’s value and pave the way for an exciting new chapter in the digital asset world. . #BTC #ETH