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With the leading cryptocurrency performing well last week, all eyes are on if Bitcoin can capitalize on the arrival of Spot Ethereum ETFs. The investment products are confirmed to launch Tuesday. Could that serve as the catalyst for Bitcoin returning to the $70,000 mark? The asset is currently just 8% away from that notable price point. Over the last seven days, the crypto has increased by more than 7%, according to CoinMarketCap. Bitcoin last surpassed the crucial $70,000 mark in March of this year, reaching an all-time high of $73,000. Source: Watcher.Guru Also Read: Ethereum ETF: BlackRock Reveals 0.25% Fee in Updated Filings Can Ethereum ETF Lead Bitcoin Back to $70,000? Speaking to Bloomberg earlier this month, Kraken executive Thomas Perfumo called the ETH ETF arrival a “rising tides lifts all boast story.” He reiterated that the investment product is “a big deal,” while noting it is set to bring both attention and “capital flows,” to the asset ...

The culmination of a tumultuous journey has finally arrived, as the US Securities and Exchange Commission (SEC) has approved the issuance of Spot Ethereum ETFs. Indeed, the decision arrived just five months after the agency granted similar approval to the Spot Bitcoin ETFs to start the year. The decision marks the approval of the country’s sec ond crypto-based ETF. Moreover, it represents a monumental shift in the overall accessibility of the sec ond-largest cryptocurrency to institutional investors. BREAKING: SEC officially approves all spot Ethereum ETFs. — Watcher.Guru (@WatcherGuru) May 23, 2024 Also Read: SEC Chair Gary Gensler: ‘Stay Tuned’ on Ethereum ETF Decision Spot Ethereum ETFs Approved by SEC Following the approval of Spot Bitcoin ETFs at the start of 2024, the market anticipated what cryptocurrency could be next. Naturally, all eyes are directed toward Ethereum. Although it appears likely, the overall sentiment of the SEC has diminis...

SEC Commissioner Hester Peirce said that the Ethereum ETF approval process won’ t be the same as Bitcoin, as the SEC has learned several lessons from the spot Bitcoin ETF saga.  In an interview today with Zack Guzmán, Peirce said that the SEC shouldn’t need to be persuaded by a court to approve crypto-backed ETFs eventually. Peirce mentioned that the regulators will change their approval process for ETH ETF applicants, and they will make regular consumer and market considerations, as it does with all ETF products.  “We shouldn’t need a court to tell us that our approach is arbitrary and capricious in order for us to get it right.” – Hester Peirce, SEC Commissioner NEW: SEC Commissioner Hester Peirce tells me the SEC won't repeat the same mistakes with ETH ETFs after fumbling Bitcoin ETFs: "That's not how we're going to do our approvals … I think that kind of a lesson will certainly stick with us.pic.twitter.com/QNu52Gmr3H — Z...