Why is Ether (ETH) price up today?

Bitcoin Talk and Cryptocurrencies Cryptocurrency In the News
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Ether’s (ETH) price recently shot up to its highest level in two months, driven by two main factors: the increased likelihood of U.S. approval for a spot Ethereum ETF and a recent Department of Justice indictment that reduces the chances of ETH being classified as a security.

First off, the chances of the U.S. approving a spot Ethereum ETF. The SEC has been talking to crypto exchanges and potential ETF issuers, making analysts bump the approval odds to 75%. If approved, this could bring in $15 to $45 billion in the first year.

Secondly, a recent Department of Justice indictment reduces the chances of ETH being classified as a security. This news has made investors pretty confident.

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Huge news. Crossing fingers this happens.

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I already sold 70% of my ETH holding since it moved so far so fast. I will not live to regret this because I was overweight ETH and underweight BTC. On a day when the differential cost moved in my favour by nearly 20%, I thought it opportune to big up the BTC part of the portfolio in preparation for later in the year.

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Smart move! Good luck with your investments! :blush: