ETH, some memcoins rally on expectations of spot ETF approval, 90% of holders in profit

The anticipation of an Ethereum (ETH) spot ETF approval has led to a rally in some ETH-based memecoins, according to The Block. Based on TheBlock's own data, PEPE is up up to 16%, LADYS is up 28%, and Dogecoin (DOGE) is up 6% in the past 24 hours. ETH is also up 4.6% in the same period, up to $3,746.93. “It remains unclear whether the U.S. Securities and Exchange Commission (SEC) will approve an ETH spot ETF, but several asset managers are submitting revised filings,” the outlet added.

Meanwhile, Into the Block reported that “90% of ETH holders have moved into appreciation as ETH has risen above $3,600.