Ether Value Skyrockets Following Bitcoin ETF Approval

Speculation grows for potential US Ether ETFs as major asset managers plan launches.

Ether, the world's second-largest cryptocurrency, has seen a 9% surge in value in the last 24 hours, reaching a 20-month high of $2,585.
The surge follows the approval of the United States' first spot-Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC).
Large asset managers such as BlackRock, Invesco, and Fidelity have had their Bitcoin ETFs approved by the SEC, fuelling speculation that ETFs investing directly in Ether may soon be within reach.
Companies including BlackRock, VanEck, Invesco, and 21Shares are said to be on the hunt to launch spot-Ether ETFs.
The Ethereum blockchain, on which Ether is based, allows investors to stake Ether tokens, a feature that could bolster the appeal of potential Ether ETFs.