Will Ethereum Price Soar Past $2,000 If SEC Approves ETH ETF Staking Tomorrow?

by

Ah, the tortured soul of Ethereum’s price. It teeters, stuck just shy of $2,000, yearning for a little nudge from the heavens. But wait! There may be a spark—courtesy of the Securities and Exchange Commission (SEC)—that could send it soaring like a desperate cat trying to escape a bath. This mysterious force? The potential approval of staking in spot ETH ETFs, which could lure the Wall Street crowd to throw their money at it. But will it be enough to push ETH over the $2,000 cliff? Let’s muse on that possibility.

Ethereum Price Might Just Hit $2000 (If SEC Finally Gives It the Green Light)

The SEC, led by the ever-enthusiastic Gary Gensler, greenlit several spot ETH ETFs back in September. Yet, in a twist befitting a tragicomedy, these funds have underwhelmed. The current tally? A mere $2.47 billion in assets. The grand total for Ethereum ETFs? A paltry $6.2 billion. Hardly the stuff of legends.

Contrast this with Bitcoin ETFs, which have attracted a more impressive $38 billion in inflows, and BlackRock’s IBIT—raking in a cool $58 billion in assets. Yes, Bitcoin ETFs have had an 8-month head start, but really, who’s counting? At this pace, Ethereum’s funds might never catch up, and it’s been dragging the Ethereum price down like a reluctant guest at a wedding.

The real kicker? The reason for this underperformance: Gensler’s rejection of Ethereum ETFs with staking features. Without staking, ETF holders are stuck with the same boring price-related returns. Meanwhile, those lucky Ethereum investors are earning a decent annual return of at least 3%. That’s better than most dividend-focused ETFs, which is saying something, isn’t it?

But wait, there’s hope on the horizon! Under Paul Atkins, the SEC is reconsidering its stance. Recently, they met with Grayscale to discuss the possibility of allowing staking. This, if approved, could usher in a flood of new investment, potentially pushing Ethereum’s price into the elusive $2,000 territory. In fact, spot Ethereum ETFs have seen inflows over the past few days, and CBOE has already submitted an application for staking in Fidelity’s ETH ETF. So, who knows? Maybe tomorrow.

ETH Price Technical Analysis: Could It Really Hit $2,000?

Looking at the charts—because we’re all experts in that, aren’t we?—Ethereum has risen from a low of $1,376 this year to its current $1,822. Not too shabby for a cryptocurrency that’s been behaving like a moody teenager. The price has broken above the upper line of a falling wedge chart pattern. Falling wedges are, apparently, like a high school prom: things often pick up toward the end. So, there’s that.

ETH has also surpassed the 25-day Exponential Moving Average (EMA), which is a nice technical signal for all you traders out there. The Relative Strength Index (RSI) has gone above the neutral 50 mark and is looking upwards—yet another optimistic sign. These all suggest that Ethereum’s value might keep rising, with buyers eyeing the sweet $2,000 level. If the breakout happens, the next target is $2,140, which was the lowest point last August. Exciting stuff!

Of course, it’s not all sunshine and rainbows. Some are betting on an ETH price drop to $1,000, according to a Polymarket poll. Additionally, the Average Directional Index (ADX) has tilted downward, signaling potential downside. So, while some are dreaming of $2,000, others are bracing for impact. The future of Ethereum? A suspenseful drama, indeed.

Read More

2025-04-29 19:14