• Ethereum’s historical Q2 performance indicates significant gains, averaging approximately 67.19%.
• Concerns arise over the potential rejection of a proposed Ethereum ETF despite anticipated benefits.
• The SEC faces a critical decision regarding VanEck’s Ethereum ETF application by May 23, with significant implications for the crypto market.

Ethereum (ETH) investors are delving into historical data to gauge its potential trajectory as the second quarter unfolds in 2024.

An analysis of Ethereum’s price performance over previous Q2 periods unveils a recurring trend of substantial gains. Notably, Ethereum has demonstrated an impressive average increase of approximately 67.19% during the second quarter.

 A crypto analyst recently showcased Ethereum’s quarterly returns, highlighting significant spikes of 453% and 102.25% in Q2 of 2017 and 2019, respectively. With a median increase of 15.29%, the positive momentum during Q2 has garnered attention from investors, who view this period as ripe with opportunities for Ethereum.

Despite the optimism surrounding Ethereum’s historical performance, concerns linger regarding the potential rejection of a proposed Ethereum exchange-traded fund (ETF). The introduction of an Ethereum ETF is anticipated to provide a regulated avenue for both institutional and retail investors, thereby stimulating demand and potentially driving ETH prices higher. 

Various financial institutions, including VanEck and Fidelity, have submitted applications for the launch of Ethereum ETFs. However, the likelihood of approval remains uncertain. The US SEC has previously deferred a decision on a spot exchange-traded fund, with a deadline set for May 23. 

On this pivotal date, the SEC will render its verdict on VanEck’s application, which could significantly impact the fate of Ethereum ETFs. Should the application be declined, issuers may be compelled to resubmit applications or pursue legal recourse against the regulatory decision. 

Read also:

• VeChain Foundation’s Q2 Reserves Down by 44% Over Q1
• The Bank of America Drops 33% of Profits in a Year, Is Crypto to Blame?
• Coinbase Reports Q2 Financials: Revenue Declines, But Cost-Cutting Measures Emerge
• From Strength to Strength: Cardano’s DApp Transaction Surge in Q2
• SEC vs Ripple: Jury Trial Scheduled for Q2 2024; SEC Misses Appeal

The post Ethereum’s Q2: History Points to Big Gains, but ETF Uncertainty Looms appeared first on Crypto News Land.

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