2023-09-23 17:33:43
A series of Ethereum ETFs may be authorized in October, which experts say might boost the coin’s price by up to 50%. With the bear market still in place, crypto investors remain on the lookout for events that might trigger another rally, and the approval of an Ethereum ETF would undoubtedly be such an event. The first ETF will be decided on October 3 After companies have finalized their applications for Ethereum ETFs with the US Securities and Exchange Commission (SEC), the introduction of exchange-traded funds is now up to the regulatory authority. According to reports, the Valkyrie Bitcoin & Ether Strategy ETF (BTF), filed in August by Valkyrie Investments, will be the first to be decided, expected on October 3rd. The SEC may accept or reject the Ethereum ETF application on this day, or may decide to postpone the matter. However, experts believe that even in the worst case scenario, the regulatory authority may approve the ETF towards the end of October, moreover, Bloomberg stated in one of its reports, citing sources familiar with the matter, that the SEC is expected to give the green light to the applications. However, October 3rd isn’t the only date to watch out for, as deadlines are scattered throughout the month. Second in October will be the Bitwise Bitcoin & Ether Equal Weight ETF (BITC) with a deadline of October 9, 2023, followed shortly by the Ether Strategy ETF (ETHU) filed by Volatility Shares with an October 11 deadline. By the way, a total of 16 Ethereum ETFs are included in the SEC’s October list, of which a decision can be made on eight on October 16, three on October 17, one on October 18, and the last one on October 30. ETH may rise above $2,000 once more According to experts, the approval of Ethereum ETFs would undoubtedly lead to an increase in the price of ETH, as it would give institutional investors the opportunity to invest in the second largest cryptocurrency, which would increase the market capitalization of the coin by billions of dollars. In this case, it is quite possible that the price of ETH will increase by up to 50%, crossing the $2000 level. If the approval of the first Bitcoin ETF is anything to go by, this might be the catalyst needed for ETH to reach a new all-time high.
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