$ETH Ethereum ETF Staking May Be Closer than Expected, ETH Eyes $4,000 Surge

As the altcoin season discussions heat up in the market, a 19b-4 filing for Ethereum ETF staking increases the hype of an Ether rally. Is the growing hype enough to restart a bull run in ETH price towards $4,000?

SEC acknowledges Ethereum ETF staking proposal, marking potential first-of-its-kind approval.

Institutional ETH inflows rise, with Fidelity adding $24.47 million and Grayscale offloading $5.45 million.

ETH price challenges 20-day EMA, with Fibonacci targets set at $3,114 and a potential surge toward $4,000.

Crucial support levels stand at $2,600 and $2,224, with a bullish outlook dependent on ETF approval.

As the crypto market prepares for a new liftoff, Bitcoin

BTC

$97 901

has breached the $97,000 mark. Amid the broader market recovery, Ethereum

ETH

$2 763

is gradually gaining strength as it sustains above the $2,700 mark.

With the short-term recovery, positive sentiments arise as the SEC acknowledges the 19b-4 filing of 21Shares’ Core Ethereum ETF for an approval of Ethereum staking. The minor progress in Ethereum ETF staking has driven a new spree of bullish sentiments.

Will this lead to a new, will this drive the next parabolic rise in Ethereum? Let’s find out.

SEC Acknowledges Ethereum ETF Staking Proposal

Recently, the United States Securities and Exchange Commission (SEC) acknowledged the 19b-4 filing for approval to stake Ethereum held in an Ethereum ETF. The request was filed by Cboe BZX Exchange on behalf of 21Shares.