The United States Securities and Exchange Commission (SEC) has recently approved the trading of spot Ethereum Exchange-Traded Funds (ETFs) in the country. This landmark decision has sparked a surge in the Ethereum NFT market, with sales jumping by an impressive 27% in just 24 hours.

The approval of Ethereum ETFs has fueled a short-term rally across various digital assets, particularly those closely tied to the Ethereum blockchain network. Ether, the native cryptocurrency of the Ethereum network, has seen its price rise from $3,751 to $3,923 in a matter of hours, and it continues to trade at a high of $3,809 at the time of writing.

The Ethereum NFT market has also benefited from this positive sentiment, with data from CryptoSlam.io showing a significant increase in trading volume. In the past 24 hours, Ethereum-based NFT collections have amassed a trading volume of $6.8 million, a 27.25% increase from the previous day.

The top-selling NFT collections on the Ethereum blockchain include:

Bored Ape Yacht Club (BAYC): $600,894 in sales, up 26%

The Captainz: $409,044 in sales, down 21.34%

CryptoPunks: $396,695 in sales, up 232%

Mutant Ape Yacht Club: $312,757 in sales, up 49%

Mocaverse: $297,676 in sales

Other notable collections include Pudgy Penguins, Milady Maker, Pixelmon, Sorare, and the blue-chip Azuki collection, all of which have seen significant increases in trading volume over the past day.

The approval of Ethereum ETFs by the SEC is a significant milestone for the cryptocurrency industry, as it provides institutional investors with a regulated and accessible way to gain exposure to Ether. This development is expected to drive further adoption and investment in the Ethereum ecosystem, which could lead to continued growth in the NFT market and other Ethereum-based applications.