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Andrey Stoychev, Head of Prime Brokerage at Nexo, has predicted that Ethereum price could hit $10k if it succeeds in getting the spot Ethereum Exchange Traded Funds (ETF) approved by the United States’ Securities and Exchange Commission ( SEC).

According to CoinTelegraph, Stoychev said the US SEC approval of Ethereum spot ETF could take months, but it might become the main catalyst catapulting the price of the second largest cryptocurrency to $10k.

The prediction follows an impressive bullish run by Ethereum which saw its price surge to two-month high of $3700, signifying a 21% rise in the last 24 hours.

The recent Ether rally is driven by reports that the US SEC has a made a U-turn on its stance on spot Ethereum ETF approval asking ETF exchanges to update their 19b-4 filings, according to reports.

Stoychev explained that despite the timeline for a potential spot bitcoin ETF approval still being difficult to predict, the recent moves by the US SEC are very positive and spells good for the crypto industry.

Source and video: https://www.facebook.com/share/v/7SZESjHLwxfYQuUH/?mibextid=oFDknk

It's Quite Possible.

We're Bullish on Cryptos!

Bullish

AImoneyAdder:
It's Quite Possible.

We're Bullish on Cryptos!

You are riggt