Ethereum Soars Past $3,200 Amid Renewed ETF Hype
Ethereum ($ETH ) surged over 7% in the past 24 hours, breaking the $3,200 mark for the first time in weeks. This bullish momentum follows growing speculation that a spot Ethereum ETF approval in the U.S. might be closer than expected. The price jump comes on the heels of reports that the SEC has resumed discussions with major asset managers like BlackRock and Fidelity.
Analysts suggest that renewed institutional interest is driving the rally, with on-chain data showing increased ETH accumulation by whales. Crypto market sentiment has also improved broadly, with Bitcoin hovering around $67,000 and altcoins like Solana $SOL and Avalanche $AVA seeing modest gains.
However, some experts caution that without a confirmed approval date, the rally could face short-term corrections. Regulatory uncertainty remains a concern, especially following the SEC’s recent enforcement actions.
Still, the excitement around a potential Ethereum ETF has injected new life into the crypto market. If approved, it could open the door to billions in institutional capital and further legitimize Ethereum as a mainstream investment asset.
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A stylized image showing Ethereum’s logo overlayed on a price chart climbing past $3,200, with “ETF Hype” in bold letters.
