Ethereum Gains Momentum with 4.6% Weekly Increase as SEC Accelerates Ether Futures ETFs Launch

Ethereum’s price has seen a notable increase this week, rising by 4.6% to reach $1,635.80. This significant uptick marks the most profitable week for the cryptocurrency since July. The rise in Ethereum’s value is occurring amid heightened anticipation surrounding the potential launch of Ethereum Futures Exchange-Traded Funds (ETFs) expected next week.

Bloomberg analyst Eric Balchunas has hinted at a possible expedited launch for these ETFs, suggesting that trading might commence as soon as Tuesday. This speculation is bolstered by the Securities and Exchange Commission’s (SEC) efforts to accelerate the approval process.

However, while the SEC appears keen to fast-track Ethereum Futures ETFs, it has postponed decisions on other Ethereum-related products. Specifically, the commission has deferred rulings on proposed Ethereum Spot ETFs from ARK Invest and VanEck, with decisions now scheduled for December 26 and 25 respectively.

This delay adds complexity to the situation, as the potential effects of ARK Invest and VanEck’s ETFs on the Ethereum market will not materialize until after the holidays.

The differing timelines for these Ethereum-related products highlight a nuanced approach by the SEC towards cryptocurrency regulation. The quickening pace for Ether futures ETFs suggests a readiness to engage with certain aspects of cryptocurrency trading, while the postponement of spot ETFs indicates a more cautious regulatory viewpoint.

These developments arrive as Ethereum is gaining traction in the market, with this week’s price surge signaling a potentially profitable period for investors. However, the precise impact of the upcoming ETF launches remains uncertain as market participants await further regulatory decisions from the SEC.