BlackRock's Larry Fink Fuels ETH Surge: $3,000 in May ?

Image Credit: Milk Road Jan 15, 2024 By: Bhumi Shrivastava

Ethereum Outperforms Bitcoin

[{"selector":"#anim-0a5d2c06-78d1-47aa-bd10-8321e2bf2017","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b672a003-8edb-47b9-8abb-96c0e07e9487","keyframes":{"transform":["translate3d(0px, 334.79056%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eacaf2c8-b001-47e7-b8ad-3db7c322109a","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-42ac3464-f41d-4f4e-9d31-5160a9d510ca","keyframes":{"transform":["translate3d(0px, 230.37037%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2cefa025-f335-4298-9687-92d05a1dd162","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07cc4c16-704b-4786-a864-e54ddc8658fa","keyframes":{"transform":["translate3d(0px, 122.35219%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-abccdf99-1421-4203-83c3-e8ab0ad6bee0","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1c22e84f-fb50-40d6-a176-03ad5755d761","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Ethereum surges over 10% after Bitcoin ETF false approval, positioning itself as a strong contender for the SEC's nod. Image Credit: Crypto News

BlackRock Joins the Fray

[{"selector":"#anim-ab96293f-0970-47f2-b2a5-b17df82951eb","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f5b9068-f403-4e3e-9317-c29335881d93","keyframes":{"transform":["translate3d(0px, 117.86220%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1cd38352-c5e0-4d00-bb09-32de053e4143","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-63bd0b82-0c24-4017-a00f-df25810e06c0","keyframes":{"transform":["translate3d(0px, 228.70362%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-562f7e36-5a1e-4239-b7e8-b7709431464a","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7870fdc8-ee85-4362-ae5c-ba6ad8d14440","keyframes":{"transform":["translate3d(0px, 527.12401%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3cfeadb0-7297-4e8b-bd80-7a6159737672","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-931cfc92-1065-4d1f-91bf-eebf525ad0f2","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Larry Fink and other entities with pending applications increase the odds of an Ethereum spot ETF approval. Image Credit: Bloomberg.com

Analyst Predictions

[{"selector":"#anim-e977209f-a224-4882-8df9-9a9d859adb49","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5a5c056a-1dfc-4fbf-8ca5-3f780efced52","keyframes":{"transform":["translate3d(0px, 123.88887%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-482f43d9-d1d7-4361-9f4e-e6b6e2c349b2","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-38dd6e0b-f17d-4385-bc07-ae2a0d076eee","keyframes":{"transform":["translate3d(0px, 247.03700%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c47863bf-4f73-462a-9b44-f1c16462d3fe","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2e5176b3-3ce8-47ec-8f90-e14fbc778880","keyframes":{"transform":["translate3d(0px, 553.59458%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-840a813c-2e22-4e1a-a602-324c8d34ce21","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f42963ce-a255-406a-bd04-bf4685fc1160","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Bloomberg's Eric Balchunas sees a 70% chance of SEC approving Ethereum spot ETF by May 2024, following Bitcoin's historic approval. Image Credit: Streamly

Spot vs. Futures

[{"selector":"#anim-b0d829b4-778e-40d4-8108-ba0bc7fe3752","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-adde8bc5-23e2-4aaf-8ded-4a8d6dee7d17","keyframes":{"transform":["translate3d(0px, 131.58731%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-689ac344-7f32-48d5-bb3e-44829f49aa94","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ac3f05b4-6771-4970-888b-8978a9a60f8e","keyframes":{"transform":["translate3d(0px, 235.37030%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0314dcd-4383-4447-b2d9-04f999e209ec","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e0bc7839-b46b-42ae-94fd-67e43c5a134f","keyframes":{"transform":["translate3d(0px, 515.35929%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a067c7ce-0f2e-4349-abef-81aa24e87ec9","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-189b2234-a200-4023-bcde-cfe1605546d9","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Understanding the significance of a spot ETF – a direct investment in the asset – and its potential i mpact on Ethereum's dynamics. Image Credit: The Daily Hodl

Market Dynamics

[{"selector":"#anim-2e5128a0-cb7d-416d-8243-719230fc425f","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c9b66c47-092d-4de1-bbbd-63604bd0ac58","keyframes":{"transform":["translate3d(0px, 125.63545%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4912a9d5-f554-46f8-9c05-db86c207c3e4","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f2af914b-9c2d-4314-9adc-b761545b5c01","keyframes":{"transform":["translate3d(0px, 228.70362%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-38159427-81ee-4ecb-972f-7e9aaf3bf54e","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-156ca851-1fa3-4cf1-88c5-c521898c38c7","keyframes":{"transform":["translate3d(0px, 527.12401%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ca87ae09-25ef-4a48-be55-6dd5c917acab","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-03bb7ff9-286c-48f6-b060-6455c9d968c3","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Layer-2 tokens and liquid staking protocols gain over 10% this week, driven by anticipation and market catalysts. Image Credit: Decrypt

Regulatory Challenges

[{"selector":"#anim-5e88535d-057a-4ba7-8559-fdb99b8237f7","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-230a7909-1eb4-4815-960d-652b5afc643d","keyframes":{"transform":["translate3d(0px, 127.30161%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b2f6ff55-424c-428f-bec3-8a9e1a61066b","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-175d50f2-8116-4617-88b0-a2302fd0c2b2","keyframes":{"transform":["translate3d(0px, 233.70365%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e67705bb-41ba-477f-89a3-aadce4932690","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a9931336-87a9-453d-9165-4dbfb5ee76a6","keyframes":{"transform":["translate3d(0px, 524.18288%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-832ccc5b-9790-4c91-b7e1-f9a7eca074d7","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bbf619d5-9fb3-4806-a45d-40eaaf284ac9","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Potential hurdles in SEC approval process – legal experts caution about crafting specific pre cedents for digital asset ETFs. Image Credit: Crypto News

Gensler's Influence

[{"selector":"#anim-b4c4f3df-3d78-4cd7-9930-bffbd95bdad5","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6923c19e-879a-4de3-b5f6-d216ea85ef24","keyframes":{"transform":["translate3d(0px, 125.31270%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bed3204d-3579-4657-bf1f-dde06b178911","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6f6a067d-7bfe-404b-8da6-6a8899a2a68d","keyframes":{"transform":["translate3d(0px, 235.37030%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59183e7a-92c3-4eb7-b156-c4b0e838ae45","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dff0a27f-98c6-4080-94a1-cf3940316027","keyframes":{"transform":["translate3d(0px, 527.12401%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b38666a5-816c-4927-bd47-1bafb29bbd51","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0ec87621-7e99-4548-aaa1-0686f151fc48","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] SEC Chair Gensler's role and the evolving stance on Ethereum's status as a security add complex ity to the approval journey. Image Credit: Forbes See More