Breaching the previous all-time high of $4,800 is only a matter of time, analysts say.

Traders ‘sell the news’ after the SEC approves eight exchange-traded funds backed by spot Ether.

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Investors anticipate that the approval of spot Ethereum ETFs could attract institutional investment

Ether is holding above $3,700 amid a surge of applications for Ethereum ETFs under Form 19b-4.

Open interest for ETH futures reached $12 billion on Tuesday, up 34% in the last 24 hours.

Bloomberg analyst Eric Balchunas said he “heard chatter” the SEC could be reversing their stance.

Large entities recorded inflows of $932 million, mostly in response to U.S. CPI data.

Solana has been on a tear this past week, as tokens issued on the blockchain hit new highs.

Bitcoin rallied above $67,000 for the first time in nearly a month, while ETH surged 5%.