ETH (Ether) Primed to Surpass $10,000 Milestone as Spot Ether ETF Gets Closer to Approval

Spot Ether ETF is on the table, and chances are that its approval would bring almost $4 billion worth of inflows. This has put ETH in an ideal position to surpass the $10,000 milestone.

The approval of a spot Ether ETF by the US Securities and Exchange Commission (SEC) could trigger inflows of almost $4 billion, potentially pushing ETH past the $10,000 milestone, according to several converging technical and fundamental factors.

Currently, the SEC has only approved 19b-4 forms and not the registration forms. It is the approval of the registration forms that would enable the exchange platform to take the ETF product live and allow traders and investors to trade.

However, optimism is running high within the community, with positive sentiments being felt across the cryptocurrency. At press time, the price of the cryptocurrency is $3,810.00, up by 0.96% over the past 24 hours and down by 1.57% over the past 7 days.

The upcoming milestone is quite ambitious, but it draws inspiration from five key factors. These are low operating costs, token burn mechanisms, token incentives, locked supply, and high onchain activity.

Let’s take a closer look at each of these factors and how they could contribute to ETH crossing the $10,000 threshold.

Low Operating Costs

Validators with lower operating costs do not need to sell a lot of ETH tokens. On the other hand, BTC holders have to sell their holdings to cover their costs.

Ethereum boosts token incentives by rolling out $7.2 million each day. This is less than Bitcoin, where members take home a collective fund of $43.8 million. The lower value of the token incentive also leads to a decrease in selling activity. Thereby, benefiting Ethereum in the end.