Kaiko: The rise in ETH coincides with the resurgence of interest in the ETH ETF, and changes in the leadership of the U.S. SEC may drive market demand
According to data from Kaiko Research, the price of Ethereum (ETH) recently touched its annual high of $4,000. Despite briefly outperforming Bitcoin (BTC) after the U.S. election, ETH has not yet tested its 2021 historical high of about $5,000. However, over the past weekend, the price of ETH stabilized around $4,000, indicating that it may test a new price range.
The rise in ETH's price coincides with a resurgence in market interest for ETH ETFs; last week these funds set a record for capital inflows. Institutional investors' interest in ETH has significantly increased and they are optimistic about potential returns by 2025. In addition, changes at the helm of the U.S Securities and Exchange Commission (SEC) could further drive market demand with ETH potentially being a major beneficiary of this change.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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