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When the SEC approved 19b-4 filings in May, the update fueled a massive spike in the price of the coin, with a ripple effect on Bitcoin and altcoins more broadly. This rally, though short-lived, might get replayed when Ethereum ETF products start trading. The bullish sentiment in price is already creeping in. At the time of writing, the price of Ethereum and trading volume are up 4.14% and 34.43% to $3,334.51 and $13,196,383,402, respectively.
Besides price impact, the launch of the Ethereum ETF effectively lifted limitations for other altcoins gunning for similar product acceptance on Wall Street. Already, there are active applications for a The Ethereum ETF trading and potential capital injection might confirm what crypto proponents have been projecting for a while now: fact that there is a subtle demand for mainstream, regulated crypto products.