Rising crypto of a spot Ether ETFapproval, increasing inflows into crypto investment products and a strong technical setup are some catalysts behind the crypto market’s rise at any time it comes up.

Bitcoin and Ether (ETH) are usually the leading gains, which have in previous days risen approximately 6.4% and 18.5% in the same period.

Increasing chances of a spot Ethereum ETF approval drive prices higher

Crypto bulls are speculating a spot Ether exchange-traded fund (ETF) approval after reports emerged that the United States Securities and Exchange Commission (SEC) is possibly changing its stance on the issue — possibly due to political pressure — with reports stating it has asked ETF exchanges to update their 19b-4 filings.

Bloomberg senior ETF analyst Eric Blachunas said they were increasing their odds of a spot Ethereum ETF approval from 25% to 75%, citing the SEC’s 180-turn on the “increasingly political issue.”

The rise of Bitcoin has been a topic of interest in recent years. Investors have seen the value of Bitcoin increase significantly over time. Many people are intrigued by the idea of a digital currency that operates independently of traditional banking systems. The rise of Bitcoin has brought attention to the potential of blockchain technology in revolutionizing financial transactions. Its increasing popularity has sparked debates about the future of money and how we perceive value in the modern world.