Expectations High for Ethereum ETF Approval and Price Surge

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Cryptodnes2024/07/09 06:31

By:Cryptodnes

Matrixport expects SEC approval for Ethereum ETFs this week, akin to past swift approvals. Major firms like BlackRock and Fidelity prepare S-1 filings, anticipating ETH's price could double.

SEC briefly delayed ETFs for revisions, setting a July 8 deadline for amended filings. Minimal revisions suggest trading may start within two weeks.

Matrixport forecasts ETH could hit $3,400 post-approval, citing historical 20% gains from similar filings, boosting investor confidence.

Bernstein targets $6,600 for Ethereum, buoyed by ETF optimism and past BTC surges after regulatory nods.

ETH trades around $3,030, up 2%, with a 57% surge in trading volume, reflecting anticipation for SEC decisions.

Approval could bolster sentiment; delay may dampen buyer interest and affect broader market trends.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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