The crypto market sees green as investors pay close attention to the launch of the Ethereum futures exchange-traded fund (ETF).
Bitcoin (BTC) and Ethereum (ETH) kick off October with impressive price surges. The largest cryptocurrency broke through $28,000 as October begins. Bitcoin is now trading around $27,990, up to 3.3% in the last 24 hours, according to data from CoinMarketCap.
The price of Ethereum surged from $1,595 to $1,750 before hovering around $1,723 at the time of writing. It remains unclear if the market has made a turn, or if this is just a flash in the pan.
Bull Run or Bull Trap?
The sudden rally came amid the market’s anticipation of the first Ethereum futures ETF product within this month. Last Friday, the community was abuzz with news that Valkyrie would be the first to offer the futures ETF.
Additionally, the SEC reportedly approved other Ethereum futures ETFs from VanEck, Bitwise, ProShares, Kelly ETFs, and Vol…
