While the ETF approval process may be delayed until 2025, this development could have a significant impact on the price of Ether.
It is reported that the approval of a U.S. spot Ethereum exchange-traded fund (ETF) could push the price of Ethereum to $10,000.
Andrey Stoychev, head of prime brokerage at Nexo, said that while the ETF approval process from the U.S. Securities and Exchange Commission (SEC) could take months, the launch of the ETF could be a significant catalyst for the price of Ethereum (ETH).
This news has attracted widespread attention in the market, and many investors are looking forward to the approval of the ETF. Some experts believe that once the ETF is approved, it will attract more institutional investors to enter the market, thereby driving up the price of Ethereum. Moreover, the launch of the ETF will also improve the liquidity of Ethereum, further driving up its price.
However, some are cautious, arguing that the impact of ETF approval on the price of Ethereum may be exaggerated. They point out that market volatility is affected by many factors, and ETFs are just one of them.
“An ETH ETF in the U.S. and similar products in Asia could be the driving force behind the asset reaching $10,000 by the end of 2024, matching the performance of the Bitcoin ETF.”
The prediction comes after a sharp rise in the price of ether, which has risen more than 21% in the past 24 hours to a two-month high of $3,771 as of 12:08 p.m. UTC, according to CoinMarketCap.
This *should* mean that S-1 approval is a matter of ‘when’ rather than ‘if’…” Yunus Ozkaya, CEO and founder of the FreeBnk app, told Cointelegraph that while the SEC is likely to accept VanEck’s application, approval of the S-1 filing could be delayed until 2025:
"I don't expect anything to trade, including S-1 approval, before 2025. However, once that happens, it will be a very large positive for the market, even if S-1 approval takes more time. I expect they will approve Vaneck's 19b-4 deadline by May 23."
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