The price of ether has barely budged despite the U.S. Securities and Exchange Commission approving eight spot ether exchange-traded funds (ETFs). Crypto commentator Zach Rynes said those interested in buying based on the approval have already done so. Ether has surged 29% over the past week amid rumors of a change in the SEC’s stance on ETF approval. However, while approved, these ETFs are still waiting for permission to issue and for approved S-1 filings. Rynes predicts that once the ETFs start to see inflows, the price of ether will surge, but others warn that this may not lead to an immediate uptrend.
