Thursday, April 18, 2024

Ethereum ETF Showdown Heats Up as ARK/21Shares and VanEck Race Forward.

After the Securities and Exchange Commission (SEC) approved the Spot Bitcoin ETF, a significant amount of institutional capital entered the market, driving up the price of BTC to a two-year high.

Investors anticipate a similar outcome for Ethereum, and there is now more expectation that the US financial authority will approve the Spot Ethereum ETF.

Ethereum ETF applicants amend their filings.

VanEck and ARK/21Shares, the candidates for the Spot Ethereum ETF, have made changes to their submissions for the exchange-traded fund. VanEck filed a revised S-1A filing for its Spot Ethereum ETF, and ARK/21Shares also filed a new 19b-4 filing and several new analyses for its Spot Ethereum ETF, according to a recent tweet from Bloomberg ETF analyst James Seyffart on X.

According to a January 30 Bloomberg article, Standard Chartered is certain that the US SEC will permit exchange-traded funds to own Ethereum as early as May 2024. In a research paper released on Tuesday, the bank revealed its prediction. The asset managers, according to Standard Chartered, will be the first to encounter the final deadline.

By the anticipated acceptance date, experts predict that the price of Ethereum will have peaked at $4,000.

The price of ether is expected to rise to $3,000 in the upcoming weeks.

The price of Ethereum is currently rising. The price of ETH surged above significant barriers at $2,000, $2,500, and $2,687. On Saturday, Ethereum was trading at $2,783. On Thursday, the price of ether reached its 2024 high of $2,867. In the upcoming weeks, the altcoin is probably going to rise toward its $3,000 target.

The Awesome Oscillator (AO) and the Moving Average Convergence/Divergence (MACD) both display green bars, indicating the presence of positive momentum and an established uptrend.

The price of Ethereum is probably going to keep rising.

The Ethereum price is likely to face a sharp slide to support below $2,500 if it closes the day’s candlestick below $2,687.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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