Is A Spot Ethereum ETF Imminent?

Ethereum's price is surging amid rising expectations that the SEC might approve a spot ETF for Ether sooner than many had expected.

Over the last 24 hours, Ethereum (ETH) has rallied by more than 20% pushing its price to a two-month high above $3,800.

This rally is largely attributed to speculation that the SEC could approve a spot Ether ETF, with analysts at Bloomberg raising the approval odds from 25% to 75%. This optimism is a major driver behind the price surge.

The potential approval has not only boosted Ethereum but also sparked a wider market rally. Bitcoin also saw gains, climbing above $71,000.)

The SEC's decision is expected as soon as May 23, with applications from VanEck and Ark Invest under consideration.

Investors are now scrambling to adjust their positions, anticipating that this could be a game-changer for crypto investments.

Disclosure: Jerry Robinson owns Ethereum in his long-term investment portfolio.

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