Are The British About to Pump Ethereum? City Capital Could Fire Up ETH USD in November

Core Insights - The UK authorities are launching crypto ETPs, potentially late compared to the US, where spot Bitcoin and Ethereum ETFs were approved over a year ago [1][6] - Despite the anticipated positive impact on Ethereum prices, the market has not responded favorably, with ETH USD experiencing a decline [2][3] - The Financial Conduct Authority has lifted a four-year ban on retail access to crypto ETNs, allowing retail investors to purchase through familiar brokerage accounts, which could stimulate demand for Ethereum [7] Market Performance - ETH USD has decreased nearly 4% in the past week, trading below $3,900, and remains over $1,000 away from its all-time highs [3] - A critical support level for ETH USD is identified at $3,700, with local resistance at $4,250 that needs to be surpassed for an uptrend to continue [4] - Trading volumes on major exchanges like Binance and OKX have dropped by over 8%, indicating a bearish sentiment despite a bullish long-short ratio [5] Future Outlook - The success of Ethereum ETPs on the London Stock Exchange is contingent on the reception from major players like BlackRock and WisdomTree [6] - The potential for tax-free gains for retail investors could act as a catalyst for increased investment in Ethereum, possibly pushing prices above $4,000 and even $5,000 in the medium term [7]