The U.S. Securities and Exchange Commission (SEC) has been notably silent on the approval of spot Ethereum ETFs, keeping issuers and market participants in suspense. ETF Store President Nate Geraci predicts the approval might come next week, stressing there’s no reason for further delay.
This week, Bloomberg’s Eric Balchunas highlighted the SEC’s tight-lipped approach since issuers submitted S-1 forms on Monday, likening the wait to a “rain delay in baseball.” Despite this, major market players and Ethereum whales have been accumulating ETH in anticipation of the ETF approval.
Thomas Perfumo from Kraken estimates that U.S. Ethereum ETFs could attract $1 billion in inflows monthly post-approval. Ethereum’s price, trading at $3,123, is expected to surge past $3,200, potentially triggering a bull run to $4,000 and beyond.
Approval of the spot Ethereum ETF could significantly impact the market, driving substantial investment and price growth, signaling a strategic shift in the cryptocurrency landscape.
