--- title: Here's Why Crypto Prices Are Jumping This Week — and What's Next description: The crypto market is pushing higher, with prices up for bitcoin, ethereum, dogecoin and others, as the SEC's spot ether ETF approval looms. authors: - name: Jordan Chussler role: Editor, Investing and Banking url: https://money.com/author/jordan-chussler/ bio: Jordan is an investment editor and CPFC who specializes in traditional equities, gold and other precious metals, retirement savings and income investing. He combines his personal and professional interests in finance and education to help readers increase their financial literacy and make better investment choices. education: Lynn University certifications: Certified Personal Finance Counselor at_money_since: 2023 articles: 131 covers: - Investing - Banking - Credit - Credit Cards - Economy and Politics - Housing - Identity Theft - Insurance - Loans - Mortgages - Personal Finance - Professional Services - Retirement also_seen_in: - Weiss Ratings - 24/7 Wall Street - Better Investing - Yahoo Finance - Nasdaq - Investing.com - Marketbeat - MSN Money social: - https://www.linkedin.com/in/jordan-chussler-b3597811/ editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2024-05-22T20:40:58.000Z' modified: '2024-05-22T20:40:58.000Z' section: Investing word_count: 715 canonical: https://money.com/crypto-prices-rising-ethereum-etf/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![A cryptocurrency coin jumping a hurdle](https://img.money.com/2024/05/News-crypto-prices-just-jumped.jpg?crop=0px%2C82px%2C2880px%2C1620px&quality=85) Crypto prices are once again on the rise, and this time it's based on increased investor access to ethereum rather bitcoin. From Monday to Tuesday, bitcoin (BTC) prices rose 7.8%, with ethereum (ETH) gaining 19.24%. The principal driver of these increases is the U.S. Securities and Exchange Commission's pending approval of spot ETH [exchange-traded funds](https://money.com/what-is-an-etf/). These ETFs would track the spot (or current price) of ETH, providing investors with an alternative means of gaining exposure to the second largest digital asset by market cap. Speculation surrounding the SEC's decision has had a cascading effect across the crypto market, driving up prices for large cap cryptos as well as meme coins. In the first 24 hours of trading this week, Binance (BNB), Solana (SOL) and Polkadot (DOT) saw prices appreciate to the tune of 4.55%, 6.92% and 7.93%, respectively, while Dogecoin (DOGE) gained 6.66% and Shiba Inu (SHIB) rose 8.7%. While prices for these cryptos leveled off or in some cases fell slightly on Wednesday, most are near record highs. Whether the current rally sustains largely depends on the SEC's decision to approve or deny spot ETH ETFs. ## Build your ultimate crypto portfolio ### OKX provides a versatile crypto trading platform suitable for all levels of investors, offering both power and user-friendliness in one space. Start your investment journey today by clicking on your state below! [Start Investing](https://money.com/pr/v29a819f1cc9?ap_referrer=%2Fcrypto-prices-rising-ethereum-etf%2F) ## Is approval for ethereum ETFs coming? The SEC must rule on spot ether ETF applications by Thursday, May 23. If the governing agency does approves of them, it could serve as an enormous boon for ETH prices. Some analysts have speculated that approval of spot ETH ETFs could spark massive inflows, matching or even exceeding that of [spot BTC ETFs](https://money.com/bitcoin-spot-etf-approval/), which were approved in the beginning of 2024. According to the crypto news site [CCN.com](https://www.ccn.com/news/crypto/ethereum-etf-inflows-could-rival-bitcoin/), "Since the first spot Bitcoin ETFs started trading in January, 11 funds have attracted net inflows of over $13 billion. This means the funds accumulated $59 billion worth of assets in less than five months." However, according to Martin Leinweber, a CFA, digital asset product strategist with MarketVector Indexes and co-author of *Mastering Crypto Assets*, just because spot BTC ETFs saw immediate inflows doesn't necessarily mean that'll be the case with ethereum. "The long-term impact of Ethereum ETFs is still not fully priced in by the market," Leinweber says. "Initially, the market was caught off guard ... Unlike the Bitcoin ETF, which had extensive marketing and buildup, the Ethereum ETF lacked similar preparations and hype." That lack of publicity is partly due to the SEC's unanticipated shift in sentiment — something Leinweber thinks could inhibit initial demand and slow the rate of inflows compared to what spot BTC ETFs experienced in the first several months of the year. "For the Bitcoin ETF, there was a high level of anticipation with ads, education sessions and overall market excitement, leading to its highly successful launch," he says. "In contrast, the Ethereum ETF faced skepticism about its approval, resulting in no significant promotional efforts. The sudden turnaround by the SEC left little time to generate similar excitement." Nonetheless, according to Leinweber, "The long-term potential remains strong, but the immediate effects might be more subdued compared to Bitcoin’s ETF launch." The chartered financial analyst says to "expect 20–30% of flows of what we’ve seen for the Bitcoin ETF." ## Looming deadline for the SEC Numerous spot ETH ETF issuers have been making last-minute changes to their regulatory filings ahead of Thursday's deadline, mirroring what many spot bitcoin ETF issuers did based on feedback from the SEC in the lead-up to their approval this past January. Notably, on Wednesday morning, Nasdaq filed an updated form for spot ETH ETF offered by BlackRock, the world's largest asset manager. If SEC approval is granted, it could provide investors with another means of accessing digital assets without requiring the technical knowhow of blockchain technology, decentralized exchanges or [crypto wallets](https://money.com/best-crypto-wallets/). On Monday, Eric Balchunas, an ETF analyst at Bloomberg Intelligence, [posted on X](https://x.com/EricBalchunas/status/1792636523050906102?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1792636523050906102%7Ctwgr%5Eb86c8f99aee5d4769edb81a0c4874837ee2141dd%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.ccn.com%2Fnews%2Fcrypto%2Fethereum-etf-inflows-could-rival-bitcoin%2F) that he is "increasing our odds of spot Ether ETF approval to 75% (up from 25%), hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue)." Founded in 2013 by programmer Vitalik Buterin, ETH has risen 30,926.61% in price since its inception. The coin currently boasts a $444 billion market cap, second only to BTC's $1.37 trillion. ## Compare Crypto Wallets Today ### Own crypto—and bank, borrow, invest—all in one app ![Start Investing](https://s3.consumersadvocate.org/prd/image/image/35181/medium_5684f912-7a5b-41aa-9612-d176140b8756.webp) Our Partner [Start Investing](https://money.com/go/973ebfb7e033?bidid=4074332542&pmeta=p129-c1003-u24464&ptid=666839550&ptoken=b367c2339f6f34bf33bfecca3722a5cb) ### Watch 2,000 crypto markets across multiple exchange ![Start Investing](https://s3.consumersadvocate.org/prd/image/image/37687/medium_e07d0277-9443-4943-95ae-3c4b5f116dda.webp) Our Partner [Start Investing](https://money.com/go/bfaf405a2eec?bidid=4074332536&pmeta=p129-c1003-u24464&ptid=666839550&ptoken=34f5b7db6055cc3ba113b9ba6bb30f7b) ### Zero wallets hacked since 2018 ![Start Investing](https://s3.consumersadvocate.org/prd/image/image/21764/medium_697ebd7c-81e9-4b79-a9b5-4208486d7fc5.png) Our Partner [Start Investing](https://money.com/go/bfc4a2d81ab6?bidid=4074332540&pmeta=p129-c1003-u24464&ptid=666839550&ptoken=d2a886418c5685db6a3dc98e27cd6a41) ### Robust security measures ![Start Investing](https://s3.consumersadvocate.org/prd/image/image/25167/medium_6ffb8e26-c174-4c4b-b1bd-3da570a5fe64.png) Our Partner [Start Investing](https://money.com/go/8d387ce8a5a9?bidid=4074332541&pmeta=p129-c1003-u24464&ptid=666839550&ptoken=d79ece658b7d0f8fea15053ccbe29d8b) ### Secure vault, user-friendly interface, and FDIC insured ![Start Investing](https://s3.consumersadvocate.org/prd/image/image/15529/medium_919a3dd7-f2c3-4ff2-a42d-661bfc3d4aec.png) Our Partner [Start Investing](https://money.com/go/32ccef1c7a7d?bidid=4074332534&pmeta=p129-c1003-u24464&ptid=666839550&ptoken=f8e5af7b316b8190fbb078fa868867b2) ![](https://s3.consumersadvocate.org/prd/image/image/35181/medium_5684f912-7a5b-41aa-9612-d176140b8756.webp) Start investing in crypto with SoFi® [Start Investing](https://money.com/pr/i0cab33ed2c9?ap_referrer=%2Fcrypto-prices-rising-ethereum-etf%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/crypto-prices-rising-ethereum-etf/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Ethereum", "item": "https://money.com/ethereum/" }, { "@type": "ListItem", "position": 4, "name": "Here's Why Crypto Prices Are Jumping This Week — and What's Next" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/crypto-prices-rising-ethereum-etf/#webpage", "url": "https://money.com/crypto-prices-rising-ethereum-etf/", "name": "Here's Why Crypto Prices Are Jumping This Week — and What's Next", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2024-05-22T20:40:58.000Z", "mainEntity": { "@id": "https://money.com/crypto-prices-rising-ethereum-etf/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/crypto-prices-rising-ethereum-etf/#breadcrumb" }, "dateModified": "2024-05-22T20:40:58.000Z" }, { "@type": "Article", "headline": "Here's Why Crypto Prices Are Jumping This Week — and What's Next", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2024/05/News-crypto-prices-just-jumped.jpg?crop=0px%2C82px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-crypto-prices-just-jumped" } ], "author": [ { "@type": "Person", "name": "Jordan Chussler", "url": "https://money.com/author/jordan-chussler/", "@id": "https://money.com/author/jordan-chussler/#author", "description": "Jordan is an investment editor and CPFC who specializes in traditional equities, gold and other precious metals, retirement savings and income investing. He combines his personal and professional interests in finance and education to help readers increase their financial literacy and make better investment choices.", "image": "https://img.money.com/2023/07/jordan.png?w=350&h=430&crop=1", "email": "jordan.chussler@money.com", "jobTitle": "Editor, Investing and Banking", "hasCredential": [ { "@type": "EducationalOccupationalCredential", "credentialCategory": "certification", "name": "Certified Personal Finance Counselor" } ], "alumniOf": "Lynn University", "subjectOf": [ { "@type": "WebPage", "url": "https://weissratings.com", "name": "Weiss Ratings" }, { "@type": "WebPage", "url": "https://247wallst.com/", "name": "24/7 Wall Street" }, { "@type": "WebPage", "url": "https://betterinvesting.org", "name": "Better Investing" }, { "@type": "WebPage", "url": "https://finance.yahoo.com/", "name": "Yahoo Finance" }, { "@type": "WebPage", "url": "https://nasdaq.com", "name": "Nasdaq" }, { "@type": "WebPage", "url": "https://investing.com", "name": "Investing.com" }, { "@type": "WebPage", "url": "https://www.marketbeat.com/", "name": "Marketbeat" }, { "@type": "WebPage", "url": "https://www.msn.com/en-us/money", "name": "MSN Money" } ], "sameAs": [ "https://www.linkedin.com/in/jordan-chussler-b3597811/" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2024-05-22T20:40:58.000Z", "description": "The crypto market is pushing higher, with prices up for bitcoin, ethereum, dogecoin and others, as the SEC's spot ether ETF approval looms.", "abstract": "The crypto market is pushing higher, with prices up for bitcoin, ethereum, dogecoin and others, as the SEC's spot ether ETF approval looms.", "@id": "https://money.com/crypto-prices-rising-ethereum-etf/", "inLanguage": "en-US", "dateModified": "2024-05-22T20:40:58.000Z", "editor": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "wordCount": 715, "about": [ { "@type": "Thing", "name": "Investment", "sameAs": [ "https://en.wikipedia.org/wiki/Investment" ] }, { "@type": "Thing", "name": "Ethereum", "sameAs": [ "https://en.wikipedia.org/wiki/Ethereum" ] }, { "@type": "Thing", "name": "Exchange-traded fund", "sameAs": [ "https://en.wikipedia.org/wiki/Exchange-traded_fund" ] }, { "@type": "Thing", "name": "Cryptocurrency", "sameAs": [ "https://en.wikipedia.org/wiki/Cryptocurrency" ] } ] } ] } ```