Ethereum Spot ETF is expected in May

We already had great news in January and it is about the Bitcoin spot ETF approval by the Security and Exchange Commission in the US. Undoubtedly this is big news and we must be happy but if you are talking about its impact on the market then probably you will have to wait for some time because things will show a positive impact in the long run. Although the Bitcoin price has not dropped a lot. We can say that it is in the stable range of the price but after the halving event, the real impact can be seen in the market however be ready to give it the next couple of months.

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I have been getting a lot of articles talking about the spot ETF for Ethereum as well. This has been applied and the approval is due on 23rd May which means the Security and Exchange Commission has to either approve or reject the spot etf by this date. We know that Ethereum is the top altcoin in the market or we can say that this is the coin that ranks second leading the segment by Bitcoin itself in the crypto market.

If spot ETF is approved for Ethereum then I expect this is going to boost the price of this coin in the market because this will increase the demand. Undoubtedly this coin deserves to be available for institutional investors through the etf mode because they will be able to buy this crypto coin through exchange-traded funds. This is a good beginning where some of the key coins are available to purchase through exchange-traded funds and I see it as a positive moment in the market.

The current price for Ethereum coin is more than 2000 U.S. dollars but if its spot ETF is approved then I expect it to reach about 7 to 10,000 U.S. dollars. We have already seen the price for Ethereum going almost 5K USD but with spot ETF approval I easily expect it to reach around two times its all-time high price however this will also take some time and we cannot expect the instant effect in the market even after the approval.

Many good things are happening in the market and it looks like we are heading towards the right direction where the market is going to have bullish sentiment but it's too early to say something like this so keep watching the market and plan your investment accordingly.

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