Fueled by the news of potential spot Ethereum ETFs approval, the ETH price has surged 18% in the past 24 hours.
This rally has also boosted projects within the Ethereum ecosystem, with tokens like ARB, OP, LDO, and ENS climbing over 10%. This indicates strong investor confidence in Ethereum's ecosystem.
The driving force behind this market surge is the high anticipation of the spot Ethereum ETF approval. The US SEC has urged exchanges to expedite the update of 19b-4 documents, sending positive signals to the market.
Bloomberg's senior ETF analysts Eric Balchunas and James Seyffart predict a 75% approval rate for these documents, significantly raising expectations for the Ethereum ETF approval.
The decision on the ETF is expected on May 23, potentially ushering in a new chapter for the crypto industry.
imToken Team
May 21, 2024