Cryptocurrency trading company QCP Capital Predicted It is predicted that the price of Ether could rise by 60%, and if the Securities and Exchange Commission (SEC) approves a spot Ethereum exchange-traded fund (ETF), the price of Ether could soar to around $6,000. The cryptocurrency market is currently in a state of uncertainty, with regulators in the spotlight. The decision will be announced this week.
Determined by financial supervisory authority Van Eck's spot Ethereum ETF application will be approved or rejected on Thursday And on Friday, the application for Ark 21Shares Ethereum ETF was made.
The approval of the Spot Ether ETF application would be a historic moment for the cryptocurrency industry, as the financial giant has been waiting for it for years. Spot Bitcoin ETF The cryptocurrency industry and market became more active earlier this year. Bitcoin has surged by more than 50% in less than a month.
meanwhile, DTCC (American Depositary Clearing Corporation) has listed Vanek's ETF on its website., indicating that approval and trading may begin as soon as possible. DTCC provides post-trade customs clearance, settlement, storage, and information services.
BlackRock, Bitwise, Grayscale, Van Eck, Ark 21Shares, Fidelity, Franklin, Invesco. Amended 19b-4 filings We asked the SEC to remove the staking provision. Financial companies hope this will make it easier to get approvals. A 19b-4 filing is a document that national exchanges, such as Nasdaq and the New York Stock Exchange (NYSE), file with the SEC for approval to list new products on their trading platforms.
Experts are optimistic that the SEC will make a favorable decision regarding the Ether ETF. Early this week, Bloomberg Intelligence ETF Analyst Eric Balchunas and James Seifert Ethereum ETF approval odds increased from 25% to 75%.Balchunas Posted on X The SEC warned that growing political pressure could lead to a “180-degree turn.” Donald Trump has spoken out in favor of several cryptocurrencies He also spoke during the election campaign in May.Additionally, President Joe Biden Supporting cryptocurrencies To gain support from the cryptocurrency community.
As of Thursday morning, Bitcoin was trading at $68,000, down nearly 2.5%, while Ether was up more than 1.9% and hovering around $3,800. According to CoinMarketCap.
