Ether ETFs could bring the price of ETH to $10k, but approval could take until 2025.

The approval of spot ether exchange-traded funds (ETFs) in the United States could push the price of ether to $10,000.

While the U.S. Securities and Exchange Commission (SEC) ETF approval process could take months, the launch of the ETF could be a big boost for Ether (ETH) prices, according to Andrey Stoychev, head of prime brokerage at Nexo.

Stoychev told Cointelegraph:

“ETH ETFs in the USA and Asia may be the driver that helps the asset reach $10,000 by the end of 2024, tracks Bitcoin post-ETF.”

The forecast comes after a sharp price increase for ether, which has risen more than 21% in the past 24 hours, to trade at a two-month high of $3,771 as of 12:08 pm UTC, according to CoinMarketCap data.

Ether's rally may follow reports that the US Securities and Exchange Commission (SEC) has been able to turn on Ether ETFs — possibly under political pressure — to ask ETF exchanges to update their 19b-4 filings.

While the timeline for the Ether ETF is still difficult to predict, the SEC's latest action is a positive sign, according to Nexo's Stoychev:

“It seems that the change in opinion on Ether ETFs may indicate a change of position from the SEC. A possible reason for that is the upcoming US presidential election, which highlights the potential for crypto users to play an important role, especially in swing states.”

Related: Fidelity Amends Ether ETF S-1 Filing, Reportedly Eliminates ETH Stock

Approval of the Ether ETF could take until 2025.

The next SEC deadline is May 23 for VanEck's Ether ETF proposal. Senior Bloomberg ETF analyst Eric Balchunas raised the odds of the proposal's approval from 25 percent to 75 percent. However, this increased probability is only associated with the 19b-4 form.

However, Ether ETF issuers must approve their S-1 filings, Bloomberg ETF analyst James Seifert wrote in a May 20 X post:

“We also need S-1 approvals. It could be weeks to months before we see S-1 approvals and live EtH ETFs. This *also* means that S-1 approvals are a matter of ‘if' not ‘when'…”

While the SEC may accept VanEck's filing, approval of the S-1 filing could be delayed until 2025, Yunus Ozkaya, CEO and founder of the Freebank app, told Cointelegraph.

“Nothing can be sold before 2025, including the S-1 approval. But, when it does, the S-1 approval will take a long time, but it will have a huge positive impact on the market. I expect them to approve it by the May 23 deadline for Vanek's 19b-4.” .

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