Ether price surges 14% due to optimism over potential US approval of Ether ETFs.

Cryptocurrencies, led by Ether, surged due to optimism surrounding the potential US approval of Ether Exchange-Traded Funds (ETFs). Ether rose by 14% to an 18-month high of $3,490, following Bloomberg Intelligence ETF analyst Eric Balchunas' estimate of a 75% probability of a spot Ether ETF approval. The US Securities and Exchange Commission (SEC) is set to announce a decision on at least one Ether ETF application by May 23. Crypto-related equities such as Coinbase, Microstrategy, and Robinhood also experienced gains.