{"id":394392,"date":"2024-05-24T12:30:19","date_gmt":"2024-05-24T07:00:19","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=394392"},"modified":"2024-05-24T18:14:11","modified_gmt":"2024-05-24T12:44:11","slug":"ethereum-etfs-approved-prices-to-hike-by-28-now","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-etfs-approved-prices-to-hike-by-28-now\/","title":{"rendered":"Ethereum ETFs approved! ETH prices to hike by 28% now?"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">The U.S. SEC has approved all the applications for ETH spot ETF filed before it.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">This approval has come with a series of anticipated impacts on the broader cryptocurrency market.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In a surprising turn of events, the U.S. Securities and Exchange Commission (SEC) <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/cboebzx\/2024\/34-100218.pdf\" target=\"_blank\" rel=\"noopener\">approved<\/a> eight applications for spot <a href=\"http:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\">Ethereum [ETH]<\/a> exchange-traded funds (ETFs) on 23rd May.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The regulator approved 19b-4 forms for the ETF applications filed by BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before this week, it <\/span><a href=\"http:\/\/ambcrypto.com\/ready-for-ethereum-etf-analyst-predicts-launch-delay\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">appeared<\/span><\/a><span style=\"font-weight: 400;\"> that the SEC was unlikely to approve the Ethereum ETFs due to a lack of communication with issuers. However, this changed earlier this week when the SEC began engaging with issuers and requested the submission of 19b-4 forms.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This approval does not, however, mean that spot ETH ETF will immediately become tradable. In a <a href=\"https:\/\/x.com\/JSeyff\/status\/1793756101881876524\" target=\"_blank\" rel=\"noopener\">post<\/a> on X (formerly Twitter), Bloomberg ETF expert James Seyffart noted that ETF issuers must get their\u00a0 S-1 forms approved.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the timeline for this, Seyffart said:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cTypically, this process takes months. Like up to 5 months in some examples, but\u00a0<\/span><span style=\"font-weight: 400;\">Eric Balchunas and I think this will be at least somewhat accelerated. Bitcoin ETFs were at least 90 days. \u201c<\/span><\/p><\/blockquote>\n<h4><b>Now that Ethereum ETF has been approved\u2026<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Just like with <a href=\"http:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin [BTC]<\/a> spot ETF, the approval of ETH ETF is expected to lead to substantial capital inflows.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a Citi <\/span><a href=\"https:\/\/www.investing.com\/news\/cryptocurrency-news\/citi-discusses-ethereum-etf-buy-the-rumor-sell-the-fact-3451658\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">analysis<\/span><\/a><span style=\"font-weight: 400;\">, net inflows into BTC spot ETFs totaled $13 billion between 4th January, when they were approved, and 20th May.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> These inflows led to a surge in BTC\u2019s price, pushing it to a new all-time high of $73,750 by 14th March. This suggested that the coin recorded a 6% price increase per $1 billion inflow.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If similar market-cap-adjusted flows are applied to ETH, Citi estimates that inflows could range between $3.8 billion and $4.5 billion, potentially driving ETH prices up by 23%-28%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap\u2019s<\/a> data, ETH exchanged hands at $3,798 at press time. A 28% rally in value would cause it to exchange hands at $4,861.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This would represent a price level still below its all-time high of $4,891, which the leading altcoin recorded three years ago.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some analysts believe that the spot ETF approval will push ETH\u2019s price past its current all-time high.<\/span><\/p>\n<h4><strong>Ethereum ETF to send ETH to $10,000?<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">In a recent <a href=\"https:\/\/cointelegraph.com\/news\/ether-etfs-eth-price-10k-approval-2025\" target=\"_blank\" rel=\"noopener\">interview<\/a> with Cointelegraph, Andrey Stoychev, the head of prime brokerage at Nexo, opined that ETF approvals may push ETH\u2019s price to $10,000 by the end of the year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stoychev said,<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cETH ETFs in the USA and similar products in Asia could be the driver that helps the asset reach $10,000 by end-2024, catching up with Bitcoin\u2019s performance post-ETF.\u201d\u00a0<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Further, there is an ongoing debate about whether ETH spot ETF approval would result in an uptick in staking rewards on the Ethereum network.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Matthew Sigel, the head of Digital Assets at VanEck, yields across staking protocols will soar as ETH moves from these protocols into these ETFs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, this shift could have security implications for the broader Ethereum ecosystem. If ETH stakers continue to withdraw their previously staked coins and move them to the newly approved ETFs, it could weaken the security of the Ethereum network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Security on the Ethereum network relies on staked coins. Less staked ETH could mean fewer validators securing the network, making it more vulnerable to attacks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, some believe that this would not be a non-issue, arguing that ETH ETF may not deliver enough returns to investors to entice stakers to move their coins from staking protocols.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a recently published <\/span><a href=\"https:\/\/ccdata.io\/blogs\/ethereum-etfs-the-secs-surprising-shift-in-stance?utm_content=185246704&amp;utm_medium=social&amp;utm_source=linkedin&amp;hss_channel=lcp-10092533\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\">, CCData Research noted:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;Hypothetically, if you had opened a 1000 ETH position on January 1st, 2023, with an ETF provider, instead of holding native Ether, which accrues staking rewards, you would have missed out on gains of over $200,000.&#8221;<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Regarding the impact of this approval on the general cryptocurrency market, broker, <a href=\"https:\/\/bernstein-bank.com\/de\/research\/\" target=\"_blank\" rel=\"noopener\">Bernstein<\/a>, in a recent report it sent to its client, had opined that the Biden administration might adopt a more lenient attitude towards crypto in anticipation of the November Presidential Elections.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hence, the regulator&#8217;s approval of the ETH spot ETF signifies a positive shift in its stance on the crypto sector.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the\u00a0<a href=\"http:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">ETH Profit Calculator<\/a><\/p>\n<hr \/>\n<h4><b>The market in the past 24 hours<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">After the news of the approval broke, ETH\u2019s price climbed to a high of $3993 before witnessing a 5% correction, causing it to exchange hands at $3,798 at press time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This price plunge led to significant liquidations of long ETH positions, totaling $92 million, <\/span><a href=\"https:\/\/www.coinglass.com\/currencies\/ETH\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">according <\/span><\/a><span style=\"font-weight: 400;\">to Coinglass data.\u00a0<\/span><\/p>\n<figure id=\"attachment_394400\" aria-describedby=\"caption-attachment-394400\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55.png\"><img decoding=\"async\" class=\"size-full wp-image-394400\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55.png\" alt=\"Ethereum Liquidations Chart\" width=\"2560\" height=\"731\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55-300x86.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55-1024x292.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55-768x219.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55-1536x438.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55-2048x585.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/Screenshot-2024-05-24-at-07.28.55-1200x343.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-394400\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The newly approved ETH ETFs will result in a surge in capital inflow into the asset, which may push its price to significant highs.<\/p>\n","protected":false},"author":64,"featured_media":394403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,41,32,66,3,4,20],"tags":[6427,6428],"class_list":["post-394392","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-analysis","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto","tag-new-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum ETFs approved! 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