{"id":331556,"date":"2024-06-13T20:30:02","date_gmt":"2024-06-13T19:30:02","guid":{"rendered":"https:\/\/coinfomania.com\/?p=331556"},"modified":"2024-06-13T20:30:06","modified_gmt":"2024-06-13T19:30:06","slug":"will-ethereum-spot-etf-listing-shoot-the-price-above-4k","status":"publish","type":"post","link":"https:\/\/coinfomania.com\/will-ethereum-spot-etf-listing-shoot-the-price-above-4k\/","title":{"rendered":"Will Ethereum Spot ETF Listing Shoot the Price Above $4k?"},"content":{"rendered":"\n

Ethereum, the second largest cryptocurrency by market cap, has witnessed a significant drop in value following a recent general market downturn. The decline which saw millions liquidated from the crypto market within a short time, sent the price of Bitcoin, the flagship cryptocurrency, crashing to $66,000.<\/p>\n\n\n\n

Consequently, the total crypto market cap has lost 3.74% at the time of writing to rest at $2.43 trillion. However, regardless of the bearish movement, Ethereum investors are optimistic about a potential rally that could send the price of the token above $4,000. But how possible is this?<\/p>\n\n\n\n

Is Ethereum Price to $4k Feasible?<\/h2>\n\n\n\n

According to fresh data from CoinMarketCap<\/a>, Ethereum has suffered a notable drop in the last 24 hours. Per the data, the coin is currently trading at $3,475<\/strong>, representing a 2.48% decline within the recorded time. In hindsight, ETH has lost about 9.28% in the last seven days but has significantly increased by 18.06% in the last 30 days.<\/p>\n\n\n\n

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Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

Earlier today, Coinfomania reported that Gary Gensler, the Chairman of the Security and Exchange Commission (SEC) hinted that the Ethereum Spot ETF S-1 is likely to be approved by the end of Summer<\/a>, precisely between June and September ending. If the SEC pulls through, the listing could lead to a large inflow of institutional funds into the product<\/p>\n\n\n\n

This information has birthed a wave of optimism among investors as the prospect of a price rally above $4,000 begins to circulate. Ethereum investors are hoping that the price of Ethereum will mirror the success of Bitcoin after a spot ETF was approved for the asset on January 11. The approval of a spot ETF pushed the value of BTC to a new all-time high of $73k with billions of funds flowing into the product from issuers.<\/p>\n\n\n\n

Previously, a 19b-4 filing was approved by the SEC, which catalyzed the surge of ETH above 22% to trade above $3,700 underscoring the potential impact of a listing by the regulatory watchdog. Ultimately, the possibility of ETH climbing above $4,00 is dependent on several factors such as general market sentiment and the approval of a spot ETF S-1.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum, the second largest cryptocurrency by market cap, has witnessed a significant drop in value following a recent general market […]<\/p>\n","protected":false},"author":50,"featured_media":331606,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1813,5],"tags":[2415,81,1586],"ppma_author":[1760],"class_list":["post-331556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","category-crypto-news","tag-eth-price","tag-ethereum","tag-ethereum-etf"],"acf":[],"authors":[{"term_id":1760,"user_id":50,"is_guest":0,"slug":"victorcoin","display_name":"Victor Swaezy","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/dbfd15c6c9b0ca03fc763f47f4d13fc1?s=96&r=g","first_name":"Victor","twitter":"https:\/\/twitter.com\/swaezy_victor","instagram":"https:\/\/www.instagram.com\/vic_swaezy\/","linkedin":"https:\/\/www.linkedin.com\/in\/victor-igbor\/","user_url":"","last_name":"Swaezy","facebook":"https:\/\/www.facebook.com\/igborvictorn\/","description":"Victor Nnamdi Igbor \"Swaezy\" is a crypto enthusiast and writer with over 8 blogging experience. He is an easy person and when not working, loves to have a good time."}],"_links":{"self":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/331556"}],"collection":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/comments?post=331556"}],"version-history":[{"count":1,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/331556\/revisions"}],"predecessor-version":[{"id":331621,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/331556\/revisions\/331621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media\/331606"}],"wp:attachment":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media?parent=331556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/categories?post=331556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/tags?post=331556"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/ppma_author?post=331556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}