Ether and Ethereum Tokens Surge Amid Traders Ether ETF Expectations

Ether and Ethereum-based tokens saw a surge in value as traders anticipate a potential Ether ETF following a Bitcoin ETF approval in the U.S. Ether's price increased to over $2,400, while Bitcoin's price fell due to fake tweets from the SEC's hacked X account.

BlackRock has applied to the SEC for an Ether ETF, indicating a growing interest in Ethereum-based investments. The crypto community is preparing for this new investment opportunity, which would allow U.S. investors to indirectly invest in Ether.

Alex Onufriychuk of Kaminari noted that There's a trend of investing early in Ether ETFs. Tokens like Lido’s LDO and RocketPool’s RPL gained value, offering staking rewards for users.

Tokens from layer 2 networks built on Ethereum, like Mantle’s MNT and Optimism’s OP, also rose in value, allowing faster and cheaper transactions.

However, experts caution that an Ether ETF is still uncertain. Martin Lee of Nansen believes Ether has a good chance of being the next cryptocurrency ETF.

Thirteen issuers, including BlackRock and Fidelity, await approval for a Bitcoin ETF, which could influence the future of Ether ETFs.