Global #Ether

In a significant ruling this year, the United States Securities and Exchange Commission (SEC) has approved the introduction of spot Ether exchange-traded funds (ETFs) in the country.

Bitcoin's recent surge of 14% over the past week to $69,887 has led traders to believe it could signify a significant market pump, with expectations of another correction not emerging until it reaches $90,000.

Fidelity has updated its S-1 application with the SEC for its Ether exchange-traded fund (ETF), indicating that the underlying Ether tokens will not be staked. This amendment comes amid speculation about the SEC's stance on spot Ether ETFs, with reports suggesting a shift possibly due to external pressures.

Despite widespread skepticism from crypto analysts and the larger crypto community regarding the approval of spot Ether exchange-traded funds (ETF) by the United States Securities and Exchange Commission (SEC), some analysts are suggesting that there might be room for a surprise.

The price of Ethereum is aiming for a potential upward breakthrough beyond the $2,900 mark. For Ethereum to sustain its upward momentum in the short term, it needs to establish stability above key resistance levels at $2,900 and $2,940.

Following bitcoin's decline below $61,000 on Friday, spot bitcoin and ether exchange-traded funds (ETFs) listed in Hong Kong experienced significant outflows on Monday.