Ethereum surpasses $2,400 — traders look forward to the next ETF | CoinDesk JAPAN

Ethereum (ETH) and the native tokens of applications built on Ethereum are on the rise as traders bet on the possibility of an Ethereum ETF being proposed following the approval of a Bitcoin spot exchange-traded fund (ETF) in the US. , soared in the past 24 hours.

ETH traded above $2,400 in the early morning European time on January 10th, rising 5% in 24 hours. A series of fake posts from the temporarily hacked U.S. Securities and Exchange Commission (SEC)

BlackRock previously filed an application with the SEC called an S-1 Form for iShares Ethereum Trust, a spot Ethereum ETF.

crypto asset communitysentiment suggests that traders are ultimately poised for an Ethereum-focused product. This could be the first opportunity for professional investors in the U.S. to gain exposure to blockchain tokens without owning them.

“We are seeing a noticeable trend towards pushing Ethereum ETFs to the forefront,” Alex Onufriychuk of Kaminari said in a Telegram message.

Lido’s LDO and RocketPool’s RPL rose as much as 17% at one point. Both protocols allow users to stake Ethereum on the platform and earn approximately 4.5% annually in staking rewards.

Elsewhere, layer 2 network tokens such as Mantle’s MNT and Optimism’s OP rose by 9%. These networks are built on top of Ethereum, but operate as independent blockchains, allowing users to make transactions cheaper and faster than the main blockchain.

However, market observers cautioned that the Ethereum ETF remained at the potential stage as of January 10th.

“ETH is the second-largest crypto asset, so it is most likely to become an ETF after BTC,” Martin Lee, an analyst at crypto analysis firm Nansen, said in a Telegram message. I guess so,” he said.

Thirteen issuers, including traditional financial giants BlackRock and Fidelity, are currently waiting for the Bitcoin Spot ETF to be approved on the 10th.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Ether Jumps Over $2.4K as Traders Bet on Possible Ether ETF Next