Entering the second quarter of 2024, investors in Ethereum (ETH) are studying past price trends to anticipate how the second-largest cryptocurrency by market cap may perform. Historically, Ethereum has seen significant gains during the second quarter, with an average increase of 67.19%.

An expert named Ali shared a snapshot of Ethereum's quarterly returns, showcasing impressive gains of 453% and 102.25% in Q2 of 2017 and 2019, respectively. The average gain for Q2 has been 67.19%, with a median increase of 15.29%.

Many investors view the second quarter as a period of opportunity for Ethereum, leveraging its positive historical trend. However, concerns about the potential rejection of an Ethereum ETF loom over this bullish outlook, which could introduce market uncertainty.

The establishment of an Ethereum ETF would offer a regulated investment avenue for both institutional and individual investors, boosting demand and driving up ETH prices. Companies like VanEck and Fidelity have applied for approval to launch such an ETF, although approval is not guaranteed, with analysts predicting only a 25% likelihood.

The Securities and Exchange Commission (SEC) had delayed a decision on a spot ETF, but it must announce a verdict by May 23, which is the final application deadline for some issuers. On this date, the SEC will determine the approval of VanEck's application and issuers may need to reapply or challenge the decision if rejected.

Seven issuers are seeking to introduce a spot Ethereum ETF fund, including major names like BlackRock, Fidelity, Grayscale, and VanEck. At the time of writing, ETH's price was down by 1.59% in the last 24 hours, trading at $3,558. Despite some recent fluctuations, Ethereum's address activity remains high, indicating a generally positive market sentiment.