Ethereum Surges Amid ETF Hopes: Market Eyes SEC Decision
#BinancePizza
The crypto market is buzzing as Ethereum (ETH) sees a significant price surge following renewed optimism around the potential approval of a spot ETH exchange-traded fund (ETF) in the U.S. ETH jumped over 15% in the past 48 hours, breaching the $3,200 mark, as investors grow hopeful ahead of the SEC's decision expected next week.
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Market analysts suggest that the positive momentum is largely driven by institutional demand and increasing clarity around crypto regulation. BlackRock and Fidelity are among the major financial firms awaiting a verdict on their ETH ETF applications.
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Meanwhile, Bitcoin (BTC) remains stable around $66,000, while altcoins like Solana (SOL) and Chainlink (LINK) have also posted modest gains. The total crypto market cap has climbed back above $2.5 trillion.
This week also saw a major announcement from Hong Kong regulators, who approved spot Bitcoin and Ethereum ETFs, making it the first in Asia to offer these products to retail investors.
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