The approval of Ethereum ETF in the United States, will cause a surge in the price of Ethereum, due to the fact that it has attracted lots of institutional investors into the Ethereum market.
After Bitcoin ETF was approved, at the beginning of 2024, investors saw the price of Bitcoin reach new all time high. Ethereum may see similar price surge after current Ethereum ETF approval. At the present, ETH all time high is $4,900. This approval will attract additional liquidity to Ethereum platform.
Which will lead to increase in the activities, acceptance and growth of Ethereum. The approval of Ethereum ETFs will provide a recognition that Ethereum is the top smart-contract-enabled-blockchain.
Ethereum ETF approval, just like Bitcoin ETF approval at the start of 2024; shows growth in the cryptocurrency industry. With a reasonable order for Ethereum ETFs, by the time it goes live; the price of Ethereum may exceed $4,000 in value.