Bernstein Expects Ether Surge 75% post Ethereum ETF Approval

As an experienced financial analyst, I have closely followed the developments in the cryptocurrency market, particularly regarding Ethereum and the potential approval of spot Ethereum exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC). The recent surge in Ether’s price, driven by speculation and anticipation of this approval, has been noteworthy.


There’s considerable anticipation among analysts about the SEC’s possible approval of Ethereum spot ETFs in the US. If realized, this development might lead to a significant price increase for Ether, potentially reaching $6,600.

Analysts Gautam Chhugani and Mahika Sapra from research firm Bernstein made this observation: Following the SEC’s approval of Bitcoin ETFs in January, Bitcoin experienced a significant 75% surge in value as noted by them.

Ethereum experienced a significant jump, breaking past the $6,600 mark due to anticipation of SEC approval for ETFs, resulting in a substantial 22% price hike within the last 24 hours. This surge surpassed Bitcoin’s more modest 4.5% increase. However, at present, Ethereum’s price has dipped to $3,694. Its previous peak was recorded at $4,878 during November 2021.

As a crypto investor, I’ve been closely following the latest developments in the Ethereum (ETH) market. Two Bloomberg Intelligence analysts, Chhugani and Sapra, shared their research on Tuesday, indicating that we might expect similar price movements for Ethereum as well. Meanwhile, an intriguing turn of events emerged on Monday: these same analysts upped the odds of an ETH Exchange-Traded Fund (ETF) being approved from 25% to a more promising 75%.

As researchers at Bloomberg Intelligence, my team and I have adjusted our outlook for the Ethereum ETF following reports of increased communication between the SEC and exchanges. Previously, we had indicated that the US’s decision on approving Ethereum ETFs seemed to be at a standstill.

The SEC’s potential approval of Ethereum ETFs might involve a two-part process: initially, the ETFs would receive theoretical approval. However, actual trading of these products wouldn’t commence until after this approval. Market analysts have positively viewed this sequence of events.

As an analyst, I’ve noticed a wave of uncertainty sweeping through the financial market due to the ambiguities surrounding ETF clearance. This confusion has been particularly prominent on prediction platforms like Polymarket, where users have wagered a substantial $8 million on the outcome. The situation may grow even more intricate if a two-step approval process is adopted.

As an analyst, I’ve observed some significant price movements in the cryptocurrency market recently. Bitcoin has experienced a 4.5% surge and surpassed $70,000 within the last day. On the other hand, Ethereum has shown impressive growth, gaining 22% to reach $3,790. The SEC’s decision on VanEck’s Ethereum ETF proposal is highly anticipated, with potential implications for other cryptocurrencies as well.

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2024-05-22 18:46