Ethereum (ETH) Price Jumps 8% to $3,700 as New ETH ETF Application Submitted to SEC, Trading Set for June
Defiance ETFs submits filing for 2x leveraged Ethereum futures ETF, aiming to double daily returns of CF Rolling CME Ether Futures Index. Ethereum’s price experiences significant 8% surge to $3,700 amidst anticipation of ETF approval by SEC. Defiance ETFs, a leading US ETF sponsor, has filed with the SEC for a pioneering 2x leveraged Ethereum [...]
- Defiance ETFs submits filing for 2x leveraged Ethereum futures ETF, aiming to double daily returns of CF Rolling CME Ether Futures Index.
- Ethereum’s price experiences significant 8% surge to $3,700 amidst anticipation of ETF approval by SEC.
Defiance ETFs, a leading US ETF sponsor, has filed with the SEC for a pioneering 2x leveraged Ethereum futures ETF. This ETF, possibly trading as “ETHL,” seeks to double the daily returns of the CF Rolling CME Ether Futures Index, providing investors with a more aggressive investment option for Ethereum’s price fluctuations. This move is inline with the updated reporting of CNF on Arthur Hayes’ prediction of Ethereum surge amid ETF excitement.
In this article, as detailed in CNF YouTube Video below, However, it also carries higher risks due to its leverage. Ethereum’s market value has recently seen a remarkable 8% increase, reaching approximately $3,700. This surge coincides with heightened anticipation surrounding ETF developments and is fueled by strong social and market sentiment, as well as positive indicators in Ethereum derivatives markets.
However, the community remains watchful for the SEC’s decision on a spot Ethereum ETF, with uncertainties lingering regarding its approval. Notably, Bloomberg analyst James Seyffart highlighted Defiance ETFs’ recent filing, signaling further interest and excitement within the cryptocurrency community.
Ethereum’s market value has recently seen a remarkable 8% increase, reaching approximately $3,700. This surge coincides with heightened anticipation surrounding ETF developments and is fueled by strong social and market sentiment, as well as positive indicators in Ethereum derivatives markets.
Yet, the community remains watchful for the SEC’s decision on a spot Ethereum ETF, with uncertainties lingering regarding its approval. Notably, Bloomberg analyst James Seyffart highlighted Defiance ETFs’ recent filing, signaling further interest and excitement within the cryptocurrency community.
This is the same company that recently filed for a 2x microstrategy/ $MSTR ETF https://t.co/5BR90T8uOy
— James Seyffart (@JSeyff) April 8, 2024
Optimistic Market Sentiment Surrounding Ethereum
The cryptocurrency is nearing its 2024 high, yet remains below its all-time high from 2021. As anticipated by CNF previously, the crypto community eagerly awaits the SEC’s decision on a spot Ethereum ETF, amid skepticism regarding its approval.
Analysts point to various factors driving Ethereum’s recent momentum, including robust social and market activities. Social intelligence firm Lunar Crush observed “ultra-strong” engagement posted in X, indicating a favorable outlook among market participants. Despite concerns about potential volatility and regulatory hurdles, Ethereum’s current trajectory suggests optimism among traders and investors.
Ethereum is showing ultra-strong activity today, eclipsing many other assets…
14 hours ago
Average social and market activity gave $ETH a LunarCrush AltRankof 64.
11 hours ago
Social activity accelerates as price also rises resulting in a much stronger AltRank— LunarCrush (@LunarCrush) April 8, 2024
As Ethereum approaches its 2024 high, attention remains focused on forthcoming regulatory decisions and market dynamics. The cryptocurrency landscape continues to evolve rapidly, with innovations such as leveraged ETFs adding new dimensions to investment opportunities.
As of now, Ethereum is priced at $3,680, as indicated by the chart below of Today’s Cryptocurrency Prices by Market Cap, showing a 7.36% increase in the past day and an 8.85% increase in the past week.
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