The price of ether is rallying toward the $4,000 mark just days after eight Ethereum exchange-traded funds (ETFs) were approved and ahead of their pending launches.

Ether has risen to its current value of $3,932, up around 3.4% over the last 24 hours, and up 35% over the last fortnite, according to The Block's Price Page. It was last above the $4,000 mark in March.

The price action may have stemmed from former President and current 2024 leading Republican candidate Donald Trump's pro-crypto comments over the weekend, according to crypto market-making firm QCP Capital.

Trump voiced his clearest support of crypto yet in a post on Truth Social that he shared shortly before his scheduled appearance at the Libertarian National Convention. "I am very positive and open minded to …