First Mover Americas: Bitcoin Slips Over 15% Since ETF Approval

Ether (ETH) could be poised to soar in 2024 on the back of hopes of a spot ETH ETF listing, analysts at Coinbase (COIN) have said. ETH reached its highest price since May 2022 following the approval of bitcoin ETFs in the U.S. last week. Several of the firms behind BTC ETFs, such as BlackRock and VanEck, are plotting similar products for ETH, Coinbase said in a weekly newsletter. Aside from ETF hopes, Ethereum’s upcoming Dencun upgrade, which aims to improve the mainnet’s scalability, could galvanize investor interest in ETH. Institutional crypto firm ETC Group said in its annual report that ether has a bullish outlook given Ethereum’s ongoing status as the most dominant blockchain for DeFi and the extra returns users can accrue through staking their coins.