Matrixport: Ethereum's Price Poised for Rebound, ETF Approval this Week

IconCryptoNewsTerminal Staff08 Jul, 2024

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Matrixport: Ethereum's Price Poised for Rebound, ETF Approval this Week

Matrixport, a leading cryptocurrency service provider, predicts a surge in Ethereum (ETH) prices following the anticipated approval of a physical ETF by the U.S. Securities and Exchange Commission (SEC).
On May 23, the SEC approved an amendment request for an ETH physical ETF, leading to a 20% increase in ETH's value. Matrixport suggests that if the SEC approves the updated S-1 this week, a further upswing in ETH prices is likely.