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.

Michael Saylor, founder of MicroStrategy, believes that the approval of spot Ether ETFs could benefit Bitcoin. Saylor is a strong Bitcoin supporter. His business is built on buying as much Bitcoin as possible. No wonder, he is looking for bullish signs everywhere. And he is lucky enough to find them. In a recent podcast with Peter McCormack, Saylor explained that the SEC's approval of eight spot Ether ETFs is positive for Bitcoin. He argued that these ETFs add a layer of defense for Bitcoin, making it politically stronger. Saylor mentioned that institutional adoption would accelerate as investors begin to see crypto as a legitimate asset class. He expects Bitcoin to receive the majority of the capital allocation within the crypto sector, estimating that Bitcoin will account for 60-70% of investments. He also acknowledged a shift in his perspective. Previously, he doubted the SEC would approve Ether ETFs. Two weeks ago, he believed Bitcoin would remain the sole crypto asset recognized by Wall Street. Now, he sees the approval as enhancing Bitcoin's standing among institutional investors. Saylor's comments stirred reactions in the crypto community. Some analysts speculated if this change might lead Saylor to invest in Ether, a stark contrast to his earlier stance. We have known him for years as a dedicated Bitcoin maximalist. Despite the broader acceptance of multiple crypto assets, Saylor remains confident that Bitcoin will maintain its leading position. He emphasized that while Ether ETFs are a positive development, Bitcoin's dominance will continue.

A victim of a significant Ethereum phishing exploit has recovered a large portion of their stolen funds. The incident, which occurred on May 26, saw 1,807 ETH, valued at approximately $6.91 million, siphoned from the victim’s wallet through a permit phishing attack. Now the money is back! The scammers returned 1,445 ETH, or about 80% of the stolen amount. The revelation came from blockchain analytics firm SlowMist and was further corroborated by Scam Sniffer. So the hackers allegedly kept 20% as a bounty. The phishing attack exploited a feature in Ethereum permits, introduced via EIP-2612, allowing interactions with smart contracts without prior authorization. This oversight enabled the scammers to transfer tokens from the victim’s wallet by generating an authentic off-chain authorization signature. There’s a cure though. SlowMist recommends periodic use of authorization tools like RevokeCash to identify and revoke any abnormal permissions. This measure is crucial for preventing such exploits in the future. Despite the recovery, not everyone was sympathetic. DeFi sleuth ZachXBT criticized the victim for falling prey to phishing attacks twice in two years, losing substantial amounts each time. Cryptocurrency-related scams have surged, with the FBI reporting that investment fraud in this sector accounted for 86% of all investment losses in the U.S. in 2023. The incident underscores the importance of vigilance in safeguarding digital assets. No one will save you from scammers as efficiently as you.

The cryptocurrency market took a nosedive. Bitcoin fell below $68,000, and Ether slumped. This sudden sell-off came as the Ethereum ETF decision hit yet another delay, Coindesk concludes. Traders are jittery. The SEC's indecision on approving the Ethereum ETF is causing market chaos. Bitcoin, the flagship cryptocurrency, wasn't spared. It plunged, dragging the entire market with it. Ether, the second-largest crypto, also tumbled. The delay in the ETF decision spooked investors. They quickly dumped their holdings, fearing further losses. The market's reaction was swift and brutal. Volatility is nothing new in crypto. However, this sell-off highlights the market's sensitivity to regulatory news. The SEC's dithering has left investors in limbo. Confidence is shaken, and prices are reacting accordingly. Analysts are divided. Some see this as a buying opportunity, predicting a rebound once the ETF gets the green light. Others warn of further declines if the decision drags on. The market's future hinges on the SEC's next move. In the meantime, traders brace for more turbulence. The Ethereum ETF saga continues to unfold, and with it, the fate of the crypto market. Investors are watching closely, hoping for clarity but preparing for the worst.

MetaMask is preparing to support native Bitcoin transactions. This development, announced by the company, marks a significant shift from its Ethereum-only origins. The wallet, known for its user-friendly interface and strong security features, is branching out. MetaMask's decision to integrate Bitcoin has been met with a mix of excitement and skepticism. On one hand, it promises to simplify life for crypto enthusiasts who juggle multiple wallets. On the other, it raises questions about how smoothly the integration will work. MetaMask’s representative has just given CoinTelegraph a cryptic yet clear message: "Stay tuned." The move aligns with MetaMask's broader strategy to expand its capabilities. Bitcoin support is a logical next step in a market clamoring for interoperability. It's a bold bet on Bitcoin's enduring popularity. However, adding Bitcoin isn't just flipping a switch. The technical challenges are significant, requiring robust solutions to ensure seamless transactions. Industry experts are watching closely. Some predict this could position MetaMask as the go-to wallet for all major cryptocurrencies. Others warn it might dilute MetaMask's brand, built firmly on Ethereum's back. The integration could potentially open doors to other blockchain networks in the future. The timing of the announcement is intriguing. It comes amid a period of heightened regulatory scrutiny and market volatility. By moving forward now, MetaMask is signaling confidence in its strategy and the broader crypto ecosystem. Whether this will pay off remains to be seen. MetaMask's journey from an Ethereum wallet to a multi-chain powerhouse is unfolding. Supporting Bitcoin could be a game changer, enhancing user experience and driving adoption. One thing is certain: the crypto community will be watching this space closely.