The price of Ethereum increased on Wednesday as the United States Securities and Exchange Commission (SEC) approaches the deadline to either approve or reject the spot Bitcoin ETF.

While there is a general belief that the agency will grant approvals for multiple cases simultaneously, investors have differing opinions following the SEC's accidental announcement of approval yesterday, which it attributed to a hacker attack.

Ethereum added 4.05% to $2,438 at 11:05 am ET.