Ethereum surges 22% on speculation ETFs could be approved as soon as this week — and a new bitcoin record might not be far behind

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• Ethereum has jumped over the past 24 hours as odds of an imminent ETF approval have soared.
• Positive signs have come from the SEC, which needs to make a final decision on two proposals this week.
• The approval could also be a catalyst for bitcoin to hit new records, according to Standard Chartered.

Ethereum rocketed 22% higher on Tuesday on surging confidence that ETFs pegged to the cryptocurrency could be approved as soon as this week.