The approval of Bitcoin ETFs in the US in January this year broadened the outlook of the crypto market for most investors. Attention quickly shifted to Ethereum with companies swiftly filing with the Securities and Exchange Commission (SEC) to offer spot ETH ETFs. For a short while, Ethereum price surged alongside Bitcoin price. Although the latter achieved a new all-time high of $73,837 according to data by CoinGape and CoinGecko, ETH topped out at $4,091.
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