Ethereum After iShares Ethereum Trust Filing: Crosses $2,000 Mark, Market Cap Up 10%, Trading Volume Skyrockets
Portfolio Pulse from Khyathi Dalal
Ethereum's price crossed the $2,000 mark for the first time since July 2023 after BlackRock Advisors registered an iShares Ethereum Trust in Delaware. The price increase was accompanied by a surge in trading volume of 259% and a market cap increase of over 10%. This comes as the SEC opens the window to issue approval orders for all 12 spot Bitcoin ETF applications. The global crypto market capitalization stands at $1.38 trillion, a 2.3% increase from the previous day.
November 09, 2023 | 11:10 pm
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POSITIVE IMPACT
The SEC has opened the window to issue approval orders for all 12 spot Bitcoin ETF applications. This has contributed to optimism in the crypto space.
The SEC's move to potentially approve Bitcoin ETF applications is a positive development for Bitcoin. This could lead to increased institutional investment and a potential increase in Bitcoin's price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 75
POSITIVE IMPACT
Ethereum's price crossed the $2,000 mark after BlackRock Advisors registered an iShares Ethereum Trust. Trading volume surged 259% and market cap increased over 10%.
The registration of an iShares Ethereum Trust by BlackRock Advisors has led to a surge in Ethereum's price, trading volume, and market cap. This indicates increased investor interest and could lead to further price increases in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100