Ethereum (ETH) has surged over 15% in the past two weeks, attracting significant attention from investors and analysts. This price increase began on July 10 when regulators appeared ready to approve spot Ether ETF applications.
On that day, Ethereum led the market with a 9% rise to $3,680.98, peaking at $3,835.43. The U.S. Securities and Exchange Commission (SEC) is reportedly reconsidering its stance on spot Ether ETFs, with final decisions on applications from VanEck and Ark Invest anticipated soon.
In May, the SEC approved updated filings for Ethereum ETFs, moving closer to full approval expected later this year. Currently, Ethereum is priced at $3,492, with expectations to fluctuate between $3,500 and $3,750.
Meanwhile, Tornado Cash, an Ethereum-based mixer, has seen nearly $2 billion in deposits this year despite U.S. sanctions. This resurgence highlights its continued use, particularly for illicit activities, even as North Korean hackers shift to traditional Bitcoin mixers.
The approval of Ethereum ETFs could significantly boost the cryptocurrency market’s credibility and stability, marking a major milestone for institutional investment in digital assets.
