Ethereum shot up through 2200 dollars last week for the first time since may of last year, thus marking a crucial turning point and made many investors look into how they can buy Ethereum. Lets dive straight into what happened.
You can buy Ethereum directly through NBX - one of the most AML-compliant exchanges in the world.
As we pointed out in week 46 it all centres around the potential upcoming Ethereum spot ETFs. If you remain unsure about the impact of these ETFs or what a spot ETF is, we gave it a quick run-through in the week 46 article.
Multiple spot Ethereum ETFs will - given that the providers are the likes of Blackrock, Grayscale and Fidelity - monumentally change the perception of Ethereum. Spot Ethereum ETFs will give Ethereum a serious standing in the world of finance and signal that it is one of the key digital assets that one should look into. Finally and just to repeat ourselves once more; these Ethereum ETFs will make it just as easy to buy Ethereum as you would buy oil or any other commodity as you will be able to do it directly through your regular brokerage account. As the whole ETF approval process is going smoothly, investors are more and more willing to invest in Ethereum, resulting in the price surge as of last week.
At the time of writing there are 7 spot Ethereum ETF applications according to James Seyffart, ETF analytics at Bloomberg.
In regards to the technical aspect of Ethereum, it has struggled to go past the 2200 mark for quite some time. In doing so, what has been the price ceiling suddenly has become the price floor if one is to follow basic technical signals. One should also keep in mind that this time Ethereum is crossing 2200 dollars on the upside which attributes to positive sentiment among investors globally. Last time this happened was in 2021.
This text is intended to inform and is not an investment recommendation.