Ethereum continues to remain strong, as shown by the fact that its price today went above the $4,650 level and set a new ATH in the process.
As a result, demand for Ethereum Futures ETF is also increasing. In fact, according to Bloomberg Intelligence, it seems that US regulators are actually more likely to approve an Ethereum Futures ETF prior to the spot Bitcoin ETF.
James Seyffart, Bloomberg analyst, believes that an Ethereum futures ETF may arrive as early as Q1 2022, which would be before a spot Bitcoin ETF:
Bitcoin Futures ETFs from ProShares and Valkyrie received approval from the US SEC in October, which pushed up the price of Bitcoin. There is a high chance that institutional players may try to get regulators to approve an Ethereum futures ETF.
Ethereum Stays Bullish
As ETH hit a new ATH, Ethereum bulls don’t plan on stopping anytime soon, and analysts predict that this represents the start of the new bull run in Ethereum, especially since the building up of the Ethereum on-chain fundamentals hasn’t impacted the price yet.
Across the previous month, Ethereum’s daily active addresses have increased by around 50%. Naturally, this indicates strong demand.
In case that the US SEC decides to go ahead and approve the Ethereum Futures ETH, not in Q1 2022, but in Q4 2021, it is likely that we will experience Ethereum going through the roof. Some analysts even predict that Ethereum will reach $10,000 by the end of this year, but that remains to be seen – just two months left to go!