Ethereum’s price jumped above $3,500 as optimism grows over potential spot ETH ETF approvals by the SEC. Analysts suggest a decision could come by late 2024. Meanwhile, Ethereum’s Pectra upgrade, expected in early 2025, aims to improve scalability and wallet security. Layer-2 networks like Arbitrum and Optimism continue gaining traction, reducing fees. However, regulatory concerns persist as the SEC debates whether ETH is a security. Staking yields remain strong, with over 28% of supply locked. Institutional interest rises, with ETH futures open interest hitting record high.
