Could Ethereum Finally See A 'God Candle' Thanks To Staking ETFs?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

The 21Shares Ethereum ETF is the first to apply for staking approval, with a final SEC decision expected by late October.
Crypto trader predicts a massive rally once Ethereum flips $3,500.
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Ethereum ETH/USD continues to trade sideways but is building momentum with speculation around incoming Ethereum staking ETFs.

Cryptocurrency	Price	24-Hour Trend
Ethereum ETH/USD	$2,656	+2%
Bitcoin BTC/USD	$95,900	+1%
XRP XRP/USD	$2,45	+2.6%

Trader Notes: Inmortal expects Ethereum to grind upward gradually, avoiding major dips or retraces. Once ETH breaks above $3,500, he anticipates a "god candle" rally.

Nebraskangooner suggests that if the breakout holds, Ethereum could soon approach $3,000. Michael van de Poppe pointed out a bullish divergence on the ETH/BTC weekly chart, signaling potential strength ahead.

Not valid at all, yet, but there might be a bullish divergence on the weekly chart for $ETH / $BTC. pic.twitter.com/HIoROOcS2u
— Michaël van de Poppe (@CryptoMichNL) February 13, 2025

JACKIS believes an ETF with staking would be a game-changer, but not necessarily an immediate pump beyond an announcement spike.

Long term, this could significantly boost price appreciation as Ethereum remains in accumulation mode since 2021.

Statistics: IntoTheBlock data shows Ethereum's large transaction volume and daily active addresses increased by 1% each. Transactions greater than $100,000 widened from 5,613 to 6,416 in a single day. Around 61% of ETH holders are making profit at current levels.

Community News: The Ethereum Foundation announced that the Treasury has deployed ETH to DeFi apps – 10,000 ETH into Spark, 10,000 ETH into Aave Prime, 20,800 ETH into Aave Core and 4,200 ETH into Compound.

This is likely to improve the ecosystem as the community plans to expand deployments and staking.

Bloomberg analyst James Seyffart announced that 21Shares Core Ethereum ETF is the first to file with the SEC and request the ability to permit staking. He added that the final deadline for the same will be somewhere around the end of October.

If approved this will enable investors to earn rewards by staking their ETH, which is currently not possible in the Ethereum ETFs.

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