The post Ethereum soars to a 7-month high amid the BlackRock ETF approval appeared on BitcoinEthereumNews.com.

Ethereum (ETH) saw a surge in its price that displayed a better performance than Bitcoin’s (BTC) following the recent buzz on the exchange-traded funds (ETFs) plans by BlackRock. Both these major currencies witnessed a surge in their price as ETH reached a fresh high in the past 24 hours.  Bitcoin rallied to the $38,000 level before its correction as Ethereum soared to $2,000. The news also affected Altcoins as the BlackRock ETF plans were unveiled on Thursday. ETF-awaited news has been anticipated for a while, and investors are gaining more confidence in cryptocurrencies, showcased by the growing influx of both retail and institutional investors.  Ethereum leads the crypto market value surge Ethereum witnessed a surge in its price by 10% after the revelation of BlackRock’s flinging for an Ethereum-based exchange-traded fund (ETF) that was revealed by a Nasdaq filing on November 9. This report enticed the entire crypto community, and enthusiasts and investors alike took this news positively.  The background laid by BlackRock on its plans of listing the Ethereum ETF boosted ETH’s price from its consolidation below the $1,900 mark.  ETH saw a rise to $2,100 after the report filing and is currently priced at $2,120 at the time of writing, placing a 10.31% increase in the past 24 hours. Its market cap also increased by 10.27%, with a 208.43% increase in dialysis trading volume.  Blackrock will get Bitcoin, Ethereum, and yes eventually Chainlink, Solana, etc ETFs. This cycle is when the institutional money shows in big time. It also means it could be the last cycle for insane life changing generational wealth. DO NOT SCREW THIS UP! — Lark Davis (@TheCryptoLark) November 9, 2023 Ethereum topped Bitcoin early on November 10 after the iShares Ethereum Trust filing registered in Delaware state. The state is a central point for…

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Filed under: News - @ November 10, 2023 11:18 am