Ethereum’s path to a bull run seems clearer than ever, according to analysts, following the SEC’s recent approval of Ethereum exchange-traded funds (ETFs). 

This move marks a significant regulatory milestone for the second-largest cryptocurrency by market cap.

The approval has driven Ethereum’s price up by over 25% in the past two weeks. Analysts from Kaiko and Amberdata highlight the long-term bullish outlook despite potential short-term selling pressure from Grayscale’s Ethereum Trust (ETHE) holders looking to cash out.

Kaiko draws parallels with Bitcoin’s ETF launch in January, where initial sell-offs were followed by substantial growth. 

They note, “Once the ETH ETFs launch, it is reasonable to expect selling pressure but anticipate long-term gains.”

JPMorgan projects that these ETFs will begin trading before November, offering mainstream investors easier access to Ethereum. This move is expected to mitigate some of the regulatory uncertainty that has weighed on ETH’s performance over the past year.

The crypto community’s excitement over the SEC’s decision has already propelled ETH’s price close to $4,000. 

Wall Street’s gradual embrace of cryptocurrency ETFs marks a pivotal moment for Ethereum. With regulatory barriers lowering, the stage is set for Ethereum to potentially surpass its 2021 all-time high of $4,878, should current momentum continue.