The crypto community is watching closely today as the SEC is set to approve or reject the 19b-4 form for Ethereum ETFs. Analysts are optimistic about approval, following the precedent set by Bitcoin ETFs. Discussions on S-1 forms have reportedly already started.

Ethereum has risen 60% in 2024, boosting investor confidence, especially with the potential approval of a Spot Ether ETF. The US SEC is anticipated to approve two key applications by the end of the week.

Although initial interactions between applicants and the SEC were tense, it seems progress has been made, promising good news for Ether holders.

BC.Game reports ETH surged 13.8% on Monday after an 8% rise to $3,780, alongside Bitcoin's rally near $69,000, hinting at a new ATH soon.

Investors are optimistic about Ethereum, speculating on imminent approval and substantial returns. However, ETH could experience volatility similar to BTC before stabilizing at a high.

Currently priced at $3,759.73, ETH is up 0.035% in 24 hours and 24.62% in the past week, with a 17.94% increase over the last 30 days. Despite a 0.08% market cap dip, there's a 29.76% drop in 24-hour trading volume. Ethereum is testing its $3,700 resistance before potentially rebounding to $4,000.

The SEC has asked Nasdaq, NYSE, and CBOE for adjustments, with nine applications in limbo. VanEck and ARK are awaiting decisions on May 23 and May 24, 2024. Experts suggest that even partial guidance would be beneficial.

Approval won't immediately trigger trades but will build investor confidence, potentially taking 60 days to several months for product access.

Bitcoin's ETF approval has renewed market interest, attracting both retail and institutional traders. Bitcoin is nearing $70,000, currently at $69,395.63, with a 0.71% drop in 24 hours and a 5.29% rise over the past week. A new ATH of over $74,000 is expected by mid-year.