{"id":79594,"date":"2024-05-27T10:16:27","date_gmt":"2024-05-27T14:16:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79594"},"modified":"2024-05-27T10:16:30","modified_gmt":"2024-05-27T14:16:30","slug":"eth-price-could-hit-4500-before-etf-approval-arthur-cheong","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/eth-price-could-hit-4500-before-etf-approval-arthur-cheong\/","title":{"rendered":"ETH Price Could Hit $4,500 Before ETF Approval – Arthur Cheong"},"content":{"rendered":"\n

According to Arthur Cheong, Ether could rally another 15% and hit $4,500 before the first official ETF<\/a> starts trading on the market.<\/p>\n\n\n\n

\"ETH
ETH Price Could Hit $4,500 Before ETF Approval – Arthur Cheong<\/figcaption><\/figure>\n\n\n\n

Before the official confirmation of the first spot Ether exchange-traded funds (ETFs), the price of Ether could reach $4,500, according to Arthur Cheong, founder and CEO of crypto-focused investment firm DeFiance Capital. <\/p>\n\n\n\n

X posted on May 26, Cheong communicated with his 167,000 followers as follows:<\/p>\n\n\n\n

\n

\u201c4.5k before spot ETF goes live for trading [in my opinion].\u201d<\/p>\n<\/blockquote>\n\n\n\n

With 10:56 am UTC, Ether was trading at $3,903, an increase of 2.57% in the twenty-four hours prior. Ether's price would increase by more than 15% from its current level to $4,500, according to CoinMarketCap, should Cheong's forecast materialize. <\/p>\n\n\n\n

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ETH\/USDT, 1-day chart. Source: Coinmarketcap\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

On May 23, the U.S. Securities and Exchange Commission (SEC) approved the 19b-4 filings of eight spot Ether ETF issuers, enabling their listing and trading on their respective exchanges. This development has prompted the prediction. <\/p>\n\n\n\n

The filings of VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise comprise the initial group of approved ETFs. <\/p>\n\n\n\n

The U.S. securities regulator's approval of the 19b-4 filings is a positive development. Still, ETF issuers must also obtain approval for their S-1 filings, a process that may take several months, according to Bloomberg ETF analyst James Seyffart, who wrote in a May 20 X post: <\/p>\n\n\n\n

\n

\u201cIt could be weeks to months before we see S-1 approvals and thus a live ETH ETF\u2026 That said, if we\u2019re correct and we see these theoretical approvals later this week. It *should* mean that S-1 approvals are a matter of \u2018When\u2019 not \u2018If\u2019…<\/em><\/p>\n<\/blockquote>\n\n\n\n

In the current bull cycle, the ETF approval<\/a> could be the most potent price catalyst for Ether, propelling its price to $10,000, according to Andrey Stoychev, director of prime brokerage at Nexo.\u00a0<\/p>\n\n\n\n

Stychev declared: <\/p>\n\n\n\n

\n

\u201cETH ETFs in the U.S. and similar products in Asia could be the driver that helps the asset reach $10,000 by end-2024, catching up with Bitcoin\u2019s performance post-ETF.\u201d<\/em><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

According to Arthur Cheong, Ether could rally another 15% and hit $4,500 before the first official ETF starts trading on the market. Before the official confirmation of the first spot Ether exchange-traded funds (ETFs), the price of Ether could reach $4,500, according to Arthur Cheong, founder and CEO of crypto-focused investment firm DeFiance Capital.  X […]<\/p>\n","protected":false},"author":12,"featured_media":54723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[6746,6121,19735,17244],"class_list":["post-79594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-etf-3","tag-ether-price","tag-arthur-cheong","tag-spot-ether-etf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/image-26.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=79594"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/54723"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}