Approval for Ether ETFs may be delayed until 2025, yet it has the potential to propel ETH price to $10K.

The potential approval of Ether exchange-traded funds (ETFs) in the United States has the potential to propel the price of Ether (ETH) to $10,000, according to Andrey Stoychev, the head of prime brokerage at Nexo. Although the SEC’s ETF approval process may take several months, the introduction of the ETF could have a significant impact on Ether’s price. This prediction comes after Ether experienced a substantial price surge, with a 21% increase in the past 24 hours, reaching a two-month high of $3,771. The rally in Ether follows reports of the SEC reversing its stance on spot Ether ETFs, potentially influenced by political pressure, and requesting ETF exchanges to update their filings. While the timeline for a spot Ether ETF remains uncertain, the recent move by the SEC is seen as a positive sign. The next deadline for VanEck’s Ether ETF proposal is on May 23, with increased approval odds predicted by senior Bloomberg ETF analyst Eric Balchunas. However, the approval of S-1 filings for Ether ETF issuers may be delayed until 2025, according to CEO and founder of the FreeBnk app, Yunus Ozkaya.