If the US SEC aims to greenlight ETF applications, it must recognize crypto as a digital asset rather than a security. While an Ether ETF is pending approval, discussions in the market have started speculating about the potential approval of upcoming ETFs.

Initially, there was anticipation among the community for Ether ETF applications, especially after the agency approved Bitcoin specifications earlier in January 2024, sparking discussions that Ether's ETF approval was imminent. However, there seems to be a slight delay, leading crypto enthusiasts to await further developments. Nonetheless, the anticipation has significantly boosted the token's profile.

ETH recently traded at over $3,900, experiencing a 3.505% upswing in the last 24 hours. If conditions remain favorable and the excitement persists, Ether is poised to surpass the $4,000 milestone in the coming days, potentially reaching $5,000 by the end of 2024.

Potential candidates like BlackRock, BanEck, and Ark Invest are speculated to file ETF applications for other crypto assets, with market cap, liquidity, and the perception of being a digital asset being key considerations. Dogecoin, given its digital commodity status, might secure approval for its applications before Ether ETF enters the market.

Such speculation has positively impacted DOGE, witnessing a 9.82% increase in token valuation over the last 7 days, despite a 3.92% decrease in its current listing. This positivity follows a US court ruling that DOGE is not a financial security in its legal battle with the Commission.

However, BNB and Avalanche might face challenges as they could be perceived as securities due to their staking features, with BNB further affected by its association with Binance, which has previously clashed with regulatory authorities.

Analysts predict that if Solana ETFs receive SEC approval, it could pave the way for Cardano ETFs due to their similarities. Clear tokenomics are crucial for ecosystem ETF applications to gain approval, with Solana being closely watched for potential approval, which could subsequently influence ETF applications for BNB, Ripple (XRP), Avalanche, and Cardano.