Ethereum is in the spotlight as its Dencun upgrade inches close. Will Ethereum break above $3,000?Dencun Slated for Q1/2024Spot Ethereum ETF Outlook
Along with the highly anticipated Dencun upgrade, Ethereum enthusiasts eagerly await the US Securities and Exchange Commission’s (SEC) decision on spot Ethereum exchange-traded funds (ETFs). Market observers believe the SEC’s upcoming ruling on spot Bitcoin ETFs, expected by January 10th, could serve as a catalyst for approving spot Ethereum ETFs.
Major institutions like BlackRock, ARK Invest, VanEck, Fidelity, Invesco, and Grayscale have all filed applications for spot Ethereum ETFs in the US. While no approvals have been granted, the SEC extended its decision deadline for these proposals to May 2024. However, with the outcome of spot Bitcoin ETF filings looming, analysts anticipate a similar one for spot Ethereum ETFs likely to follow.
Ethereum is trading at around $2,300 at current prices. There’s growing anticipation in the crypto community about Ethereum’s potential to reach new heights this year in alignment with a series of important events. If an ETF hits the markets in 2024, ETH’s price will likely rise.
Now, we just have to wait and see how the upgrade goes, and what the 2024 crypto market brings.
