Ethereum ETF launch could push Ether to new all-time high, on one condition

• 
  Ethereum
  analyst
  from
  venture
  capital
  firm
  says
  Spot
  Ethereum
  approval
  could
  come
  as
  early
  as
  this
  week,
  placing
  odds
  at
  72.7%. 
• 
  A
  crypto
  analyst
  predicts
  200%
  gains
  in
  Ether
  price,
  post
  the
  anticipated
  approval
  of
  the
  Spot
  ETF
  by
  the
  Securities
  &
  Exchange
  Commission. 
• 
  Ether
  sustains
  above
  $3,000
  even
  as
  supply
  on
  exchanges
  surges
  to
  2024
  peak. 

Ethereum
(ETH)
traders
are
watching
two
key
events
closely:
the
anticipated
approval
of
the
Spot
Ether
ETF
and
the
activities
of
whales,
the
large
wallet
investors
holding
ETH.

An
analyst
has
predicted
that
the
odds
of
Spot
Ether
ETF
is
72.7%
this
week. 

Ethereum
ETF
launch,
and
on-chain
activity 

Analyst
behind
the
X
handle
@DarkCryptoLord
says
that
the
odds
of
the
SEC
approving
a
Spot
ETH
ETF
is
72.7%
this
week.
ETH
traders
anticipate
the
ETF
approval
to
act
as
a
bullish
catalyst
for
the
altcoin’s
price. 

Eric
Balchunas,
Senior
ETF
analyst
at
Bloomberg
shared
his
thoughts
on
the
Ether
ETF
and
said
it
remains
unclear
why
the
US
financial
regulator
is
taking
so
long. 

Santiment
data
shows
that

Ethereum
supply
on
exchanges
has
climbed
to
its
highest
level
in
2024.
It
is
likely
that
Ether
holders
anticipate
a
rally
in
ETH
price
and
are
waiting
to
take
profits. 

19.23
million
Ether
is
being
held
in
wallets
across
crypto
exchanges
per
Santiment
chart.

Supply
on
exchanges
vs.
ETH
price

Analyst
predicts
200%
gains
in
Ethereum

Analyst
behind
the
X
handle
@follis_
notes
the
similarities
between
Ether
chart
and
Bitcoin’s
prior
to
the
largest
asset
by
market
capitalization
rallying
200%.
If
the
Ether
ETF
garners
as
much
attention
and
interest
from
institutional
investors,
as
Bitcoin
did,
it
is
likely
that
the
altcoin
extends
gains
by
200%. 

Altcoins
related
to
Ethereum,
staking
tokens,
staking
tokens,
Layer
2
scaling
assets
could
extend
gains
alongside
Ether.
Bitcoin’s
post-ETF
gains
reflected
in
assets
like
BRC-20
and
related
assets,
if
history
repeats
this
could
occur
for
Ethereum. 

At
the
time
of
writing,
Ether
trades
at
$3,152
on
Binance.