I know I'm late to the party, but Ethereum has been making moves since last Wednesday, April 26, 2017.
Firstly, last Wednesday, it was discovered that the SEC is considering an Ether-based ETF (here's the link). I found it interested that the same SEC that rejected the Winklevoss twins' Bitcoin ETF is considering an Ether ETF. However, the linked article makes a compelling point:
First of all, none of the big Chinese exchanges lists ether for trading (which means it is only a matter of time before they do) sending it into orbit as the traditional Chinese bubble stampede does. Second, the two biggest ether exchanges are Coinbase and Kraken, both regulated.
Ethereum is backed by almost all household brands who have formed an alliance in support of the platform. Microsoft is a big proponent, with ether’s protocol added to Hyperledger, the open-source cross-industry blockchain development effort headed by the Linux Foundation.
Source: Zerohedge.com
My guess is the SEC feels that Ethereum is "safer" than Bitcoin in the sense that its price is not controlled by big money in China and is traded on US regulated exchanges. The Ethereum Project is also backed by big companies such Microsoft, JP Morgan, and Intel just to name a few. With big corporations backing the project, I'm assuming the SEC sees this as a stable cryptocurrency for retail investors like my parents to invest in.
However, there is current solution for those same investors itching to get into the cryptocurrency game with their stock brokerage accounts: enter Grayscale. Grayscale offers both an Ethereum Classic Investment Trust and a Bitcoin Investment Trust. As described on Grayscale's site:
The Ethereum Classic Investment Trust enables investors to gain exposure to the price movement of ETC through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping ETC.
Source: Grayscale's Ethereum Classic Investment Trust page
Since it's April 24th debut, Ethereum Classic and Ethereum have been coasting on a steady uptrend. Since Greyscale has had success managing their Bitcoin Investment Trust since its IPO (Initial Public Offering) on January 20, 2017, the Ethereum Classic Investment Trust seems to be in good hands (so far) and will play favorably for an Ethereum- based ETF.
Sidenote: This is also playing out well for the Winklevoss twins especially since "the SEC announce[d] that it intends to review its decision to reject a bitcoin ETF". Source: Zerohedge.com
With the end of 2017 quickly approaching, we only have another seven months to accumulate ETH before it switches to proof-of-stake.
With all of this news, no wonder ETH and ETC have surged in price over the last week.
I think it will continue as long as we await the SEC's verdict on the Ethereum ETF and the inevitable switch to proof-of-stake (since most people I talk to want a masternode in a top 10 cryptocurrency). I recommend buying some on any dip that the market gives you. If ETH can hold 0.058BTC line, I would definitely do so buying there.
Let's see how this all plays out now that ETH has touched the $100 mark.
Let me know what you guys think about Ethereum's Future.
Remember, I am not a financial adviser. The tactics discussed here are for informational purposes only.