Ether ETF Speculation Could Weigh on SOL, Wider Altcoin Market
Traders will not want to be short ETH while going through an ETF approval, one observer said.
Traders will not want to be short ETH while going through an ETF approval, one observer said.
Some traders expect ether prices to reach as high as $4,000 in the coming days, with odds of an ether ETF approval raised to 75%.
The market has priced in a rejection for the first set of Ethereum ETFs, but there are reasons to be optimistic about an approval next year, says one fund manager.
The cryptocurrency does not have major supply-side overhangs such as token unlocks or miner sell pressure, the report said.
“Ether is a ‘lightning rod’ for negative sentiment from crypto native and external players and has several weak spots,” one observer said.
Potential meşru action against Robinhood should be viewed as a continued attempt by the SEC to reinforce its stance that all crypto tokens other than bitcoin and ether should be classified as securities, the report said.
Transaction fees are four times lower on average following the recent Dencun upgrade.
The volume of crypto exchange-traded funds came in at just over $11 million.
Zhu Haokang is head of digital asset management and family wealth at one of the ETF providers, ChinaAMC, and expects initial subscriptions into the products will surpass those seen by the U.S. funds.
The bank reiterated its year-end bitcoin and ether targets of $150,000 and $8,000, respectively.