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The approval of the spot Ether exchange-traded funds (ETFs) in the United States could drive Ether’s price to $10,000.
While the United States Securities and Exchange Commission’s (SEC)&nbsp;ETF approval process may take months, the launch of the ETF could be a significant catalyst for the price of Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>), according to Andrey Stoychev, the head of prime brokerage at Nexo.
Stoychev told Cointelegraph:
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 “ETH ETFs in the USA and similar products in Asia could be the driver that helps the asset reach $10,000 by end-2024, catching up with Bitcoin’s performance post-ETF.”
</blockquote>
The prediction comes after a significant price surge for Ether, which rose over 21% during the past 24 hours to trade at a two-month high of $3,771 as of 12:08 pm UTC, <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener nofollow">according</a> to CoinMarketCap data.
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 <img src="https://s3.cointelegraph.com/uploads/2024-05/1efbf7a5-fd56-4649-8d87-2c4a43b768cf.png" alt="" title="">
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 ETH/USDT, 1-day chart. Source: CoinMarketCap
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The Ether rally follows reports that the United States Securities and Exchange Commission (SEC) <a href="https://cointelegraph.com/news/sec-reconsidering-spot-ether-etf-denial-analysts">has U-turned on spot Ether ETFs</a> — possibly due <a href="https://cointelegraph.com/news/united-states-joe-biden-sab-121-accounting-crypto-law">to political pressure</a> — with reports stating it has asked ETF exchanges to update their 19b-4 filings.
While the timeline for a potential spot Ether ETF is still difficult to predict, the SEC’s latest move is a positive sign, according to Nexo’s Stoychev:
<blockquote data-ct-non-breakable="true">
 “This seeming change in perception towards Ether ETFs may come to signal a switch in stance from the SEC. A speculative reason for that could be the upcoming US presidential election which has come to highlight that crypto users may play a defining role, especially in swing states.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/fidelity-amends-ether-etf-filing-removes-eth-staking">Fidelity reportedly amends Ether ETF S-1 filing, removes ETH staking</a>
<h2 data-ct-non-breakable="true" id="ether-etf-approval-may-take-until-2025">Ether ETF approval may take until 2025</h2>
The next SEC deadline is May 23 for VanEck’s Ether ETF proposal. Senior Bloomberg ETF analyst Eric Balchunas has raised the approval odds for this proposal to 75%, up from 25%. However, this increased likelihood only pertains to the 19b-4 form.
However, Ether ETF issuers will also need to get their S-1 filings approved, according to Bloomberg ETF analyst James Seyffart, who wrote in a May 20 X <a href="https://x.com/JSeyff/status/1792650597377757456" target="_blank" rel="noopener nofollow">post</a>:
<blockquote data-ct-non-breakable="true">
 “We also need S-1 approvals. It could be weeks to months before we see S-1 approvals and thus a live EtH ETF… That said, if we’re correct and we see these theoretical approvals later this week. It *should* mean that S-1 approvals are a matter of ‘When’ not ‘If’...”
</blockquote>
While the SEC will likely accept VanEck’s filing, the approval of the S-1 filings could be delayed until 2025, according to Yunus Ozkaya, the CEO and founder of the FreeBnk app, who told Cointelegraph:
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 “I am not expecting anything earlier than 2025 to be tradeable, including S-1 approval. However, when it does, it will have a really big positive effect on the market, even if S-1 approval takes more time. I am expecting they will approve it by May 23rd for Vaneck’s 19b-4 deadline.”
</blockquote>
Magazine: <a href="https://cointelegraph.com/magazine/trader-turns-3k-into-46m-pepe-ethereum-gas-overhaul-tornado-cash-dev-guilty-hodlers-digest-may-12-18/">Trader turns $3K into $46M in PEPE, Ethereum gas overhaul, Tornado dev guilty: Hodler’s Digest, May 12-18</a>

Ether ETFs could drive ETH price to $10K, but approval could take until 2025

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