Today, the digital cryptocurrency Ether continues to rise and is expected to hit a record high in the past two years.livecasinolightningrouletteThe biggest two-day rise. At the same time, Bitcoin is also close to record highs. This is mainly due to optimistic market sentiment that the U.S. Securities and Exchange Commission (SEC) will approve the Ethereum spot ETF this week.
On Tuesday, Ethereum rose 8% to $3775, its highest level in two months. On Monday, Ethereum was already up 20%. At the same time, Bitcoin rose 2.5 percentlivecasinolightningroulette.2%, quoted at $71000, compared with March 73,803livecasinolightningrouletteThe high of $25 is only 4% lower.
This week, the SEC will rule on some spot Ethereum ETF applications. Analysts and investors said Tuesday's surge was due to unconfirmed rumors that the SEC might approve the products. Prior to this, investors generally believed that the SEC would not approve these products.
Earlier this year, Bitcoin surged after the SEC approved several spot Bitcoin ETFs. Today, these ETFs have attracted billions of dollars in inflows. Bitcoin has risen 67% so far this year. Today, Ethereum is closely behind, with an increase of 60%.
Ben Laidler, global market strategist at eToro, the world's largest trader and investor community, said: "Ahead of Thursday's first deadline for the SEC to decide whether to approve the Ethereum ETF, Ethereum has taken the lead in the latest round of digital cryptocurrency gains."
"Direct approval is unlikely, but providing any guidance on the road to final approval will be a big step forward," Laidler added.
Vaneck, Ark Investment Management and itslivecasinolightningrouletteSeven of his issuers have submitted applications to the SEC to list spot Ethereum ETFs. The SEC must make a decision on Vaneck's and Ark's applications by May 23 and May 24, respectively.
Joseph Edwards, head of research at digital asset brokerage firm Enigma Securities, cited some media reports that the SEC has required exchanges that list Ethereum ETFs to update their filings. Separately, an ETF study also showed that analysts have raised their approval expectations.
An SEC spokesman declined to comment. Previously, the SEC had postponed the approval deadline in March.
