On May 23rd, the U.S. Securities and Exchange Commission (SEC) made a landmark decision by approving spot Ethereum exchange-traded funds (ETFs) ¹. This regulatory breakthrough for crypto led to a nearly 2% increase in the Ethereum price, pushing it to $3,792 . The approval of these ETFs could have a significant impact on Ethereum's value, similar to what was observed with Bitcoin ETFs. For instance, when Bitcoin ETFs started trading on January 11, Bitcoin's price rose from $42,000 to over $73,000 within two weeks ⁴. Now, with Ethereum ETFs potentially on the horizon, there's anticipation that the second-largest cryptocurrency could experience a rally of up to 60% in the coming months ⁴. The market is closely watching for further developments, and buying activity has increased both on centralized and blockchain-based exchanges ⁴. It's an exciting time for the crypto community! ?

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