Analysts at the company predicted a 50% chance that a spot Ethereum ETF will be approved by MAY and a near-certain chance that such a fund will be approved within one year. This is a very good increase in the crypto world as another trading market will be approved soon and the awaited miners of this Ethereum will finally benefit from another crypto currency, especially now that dollar has a very high value in the trading market.
I'm sure shrewd investors will remember the happenstance around Bitcoin ETF and how price dipped a few days after it was accepted to short ETH too. I expect the same scenario to play out and weak hands will crash out. However, whatever happens, whether ETH ETF is approved or not I believe ETH will soar in price to beat its ATH of $4,800+ to set a fresh record. Truth be told, ETH is undervalued to the best of my perspicacity. I think it should be looking the way of $10k per coin.