Ethereum rises above $3,000

In anticipation of the Ethereum ETF, ETH reacts positively at the beginning of the week, rising above $3000.

While ETH still lost ground overnight, the second-largest cryptocurrency in terms of market capitalization has risen above $3,000 in recent hours.

The reason for this sudden growth are speculations about the eventual approval of the Ethereum Spot ETFs from BlackRock, Fidelity and others.

According to Bloomberg analysts James Seyffart and Eric Balchunas, the SEC is said to already have the exchange products be able to approve next week.

The two market experts had gone through the message service X declared: "We think a listing could possibly take place by the end of next week or the week of July 15."

However, with a decline of about 12 percent over the past seven days, Ethereum continues to struggle with continued selling pressure for now.