Ethereum Climbs on Speculation of Spot ETF

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Ethereum price soared to a two-month high at $3,700 today as analysts significantly boosted their expectation that a spot ETH ETF could be approved.

On May 20, the price of Ether ETH surged over 18% after Eric Balchunas, a senior analyst at Bloomberg, raised the approval odds for the Ethereum exchange-traded fund (ETF) from 25% to 75%. Balchunas noted that the United States Securities and Exchange Commission (SEC) likely faced political pressure, as its previous position showed little engagement with ETF applicants.

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