Approval for Ether ETFs may not come until 2025, yet it has the potential to propel ETH price to $10K.

Approval of exchange-traded funds (ETFs) for Ether in the United States has the potential to drive the price of the cryptocurrency to $10,000, according to Andrey Stoychev, head of prime brokerage at Nexo. While the SEC’s approval process for ETFs may take time, the launch of an ETF could be a significant catalyst for Ether’s price. The price of Ether has already surged by over 21% in the past 24 hours to reach a two-month high of $3,771. This rally follows reports that the SEC has reversed its stance on spot Ether ETFs, possibly due to political pressure. The SEC has requested ETF exchanges to update their filings, which is seen as a positive sign by Stoychev. The next deadline for an Ether ETF proposal is May 23, and analysts have raised the approval odds for this proposal to 75%. However, the approval of S-1 filings may be delayed until 2025.