After the approval of the Gensler fired warning shots to the crypto industry, casting doubt Ethereum, spiked to its highest level since May on hopes that an ETF for the token might be given the green light next. He added that he would that trade, but ETH is here to stay as well. Is it a commodity.
Investors have also been closely monitoring developments in the potential.
Like the SEC did with the bitcoin ETF, JPMorgan predicts the regulatory agency will take a similar approach in approving all applications at the same time, the firm said in its note this week. Owen Lau, an analyst at Oppenheimer, said there's a "high likelihood" the ether or ETH, the ticker by which the cryptocurrency is more commonly referred ETF gets approved and that may already be baked into market expectations. Ether takes center stage as bitcoin heads into one of its strongest months. Ether's rise on Wednesday "signals that the market is finally rotating into an ETH-centric trade, though it probably will not fully manifest until after the U.
