Ethereum’s most anticipated upgrade spot ETF Approval is only 100 days away. How will this affect the ETH price?

Ethereum, one of the most prominent cryptocurrencies in the world, is on the verge of a vital moment as the approval of Ethereum spot Exchange-Traded Funds (ETFs) is only 100 days away. The countdown is marked by critical network upgrades, significant interest from asset managers in Ethereum yields, and the launch of multiple Layer 2 solutions. This will be a great and transformative year for Ethereum. 

While the countdown starts, the Ethereum Dencun network upgrade will also happen on March 13. According to analysts, this upgrade could parallel last year’s Shanghai Upgrade, which resulted in a massive 50% increase in ETH price. 

In addition, the Bitcoin halving event is also set to happen on April 17. You might think it’s unrelated to Ethereum, but this event led to Bitcoin having a massive market rally, averaging a 70% increase in its value. The same influence will likely boost the Ethereum market, supporting the ongoing ETH rally.

The excitement doesn’t end here. As the month of May approaches, the soonest possible approval date for the seven Ethereum spot ETFs is May 23rd. The market is quite confident as they compare the Bitcoin ETF launch to the Ethereum ETF launch claiming a potential 80% increase in ETH’s price.

However, there are also several factors that might trigger market volatility as the deadline approaches. This includes potential sell-offs and regulatory challenges. These expected challenges could prompt strategic buying opportunities supported by on-chain signals and market sentiment. 

ETH is up by 2.65% at this time of writing, trading at $2,743 in the last 24 hours. Ethereum remains at the #2 spot with a total market capitalization of $329.67 billion.