Ethereum rising as traders ahead of SEC call on ETH ETFs

The price of Bitcoin was again on the front-foot on Tuesday, rising nearly 2% in the past 24 hours, whilst Ethereum was stronger.

ETH advanced nearly 20% in the past day, to bring the past seven day’s trade moving the price up 30%.

It comes as crypto markets await a hotly anticipated decision from the US Securities and Exchange Commission (SEC) over the next high profile applications for spot-price exchange traded funds (ETFs).

The applications are for (phonetically-jarring) ETH ETFs being proposed by managers VanEck and Ark Invest, which expect the regulator to rule on Thursday and Friday.

If approved, like Bitcoin ETFs, the greenlight for ETH ETFs could spur a significant increase in institutional demand for the world’s second-largest cryptocurrency.

Evidently, the rising price of ETH suggests there’s optimism amongst speculative traders.

At 69,608, Bitcoin the price was up 1.7% and was up 13.46% over the past seven days.

Eth was meanwhile priced at $3,732, up 18.7% for the past day and was up 29% higher for the past seven days.

Elsewhere, Solana was slightly lower at $176.99 and similarly Dogecoin was up slightly at 16.83 cents.