ETH price will reach $10,000
Global asset management firm Bernstein expressed confidence, predicting that the U.S. Securities and Exchange Commission (SEC) would likely approve it. Ethereum spot ETF.
SEC Ethereum Spot ETF Approval Imminent
Ethereum, the world’s second-largest cryptocurrency, is second only to Bitcoin to receive ETF approval from the U.S. SEC, Bernstein analysts Gautam Chhugani and Mahika Sapra wrote in a February 19 research report. It was stated that it may be the only digital asset that receives .
next Spot Bitcoin ETF ApprovedMany cryptocurrency enthusiasts predicted Ethereum to be the next cryptocurrency. In line with ETFs. However, given the SEC’s current stance on cryptocurrencies and its previous reluctant acceptance of the Spot Bitcoin ETF, the prospects for the Ethereum ETF are as follows: uncertain.
In a research report, Bernstein analysts predicted an approval timeline for the Ethereum Spot ETF. They emphasized that they had a notable presence. traditional financial companygrayscale and Franklin TempletonCompeting for Spot Ethereum ETF Strengthens Prospects for Approval
“We believe there is a roughly 50% chance that an Ethereum ETF will be approved in-kind by May and an almost certain chance of approval within the next 12 months,” the Bernstein report said.
Ethereum’s roadmap to $10,000
With the potential approval of the Ethereum Spot ETF, Ethereum witness significant price increases Up to $10,000 level. Prior to approval by the SEC Bitcoin ETF Spot On January 10th, excitement surrounding ETFs sparked a massive price rally for the cryptocurrency. After approval and ETF launch, Bitcoin surges above $45,000. before witnessing a subsequent price correction pushing it back below $40,000.
Despite the brief correction, Bitcoin is gaining momentum again, with the cryptocurrency trading at $51,998 at the time of this writing, according to CoinMarketCap. These significant price increases are largely due to the success of ETFs, providing greater accessibility to investors. bitcoinContributes to the increased adoption of cryptocurrency.
A similar story may unfold Ethereum As interest from institutional investors grows following ETF approval and ETFs drive global adoption, cryptocurrencies can potentially It surpassed $10,000 and broke an all-time high.
In a research report, Bernstein analysts also confirmed Ethereum’s strong position for mainstream institutional adoption. Analysts have highlighted the need for the cryptocurrency market to shift its attention to Ethereum as the cryptocurrency is poised to benefit following the approval and launch of ETFs.
ETH price reclaims $2,900 | Source: ETHUSD on Tradingview.com
Featured image from Crypto Briefing, Chart from Tradingview.com
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