Ether Jumped Above $3.5K Ahead of ETH ETF Trading

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 100 million users worldwide. Let's take a look at the chart of the day. The price of Ether jumped above $3500 as the spot ETF S are expected to go live for trading as early as Tuesday. This comes after eight issuers of the product including blackrock received approval for their latest SS one filings from the SEC on Monday. Investors are hoping that the ETF S could mirror the performance of their Bitcoin counterparts which attracted over $17 billion in net inflows since January. However, there are concerns about gray scales $9 billion E trust potentially exerting downward pressure on the market through selling, which could counteract the positive effects of new inflows. That is according to Vivian Wong partner at hash key capitals liquid funds as of 10 a.m. Eastern time, Ether is trading relatively flat around $3463. That's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind his top news stories.