Traders are positioning for a surge in ethereum prices, betting that Wall Street’s top securities regulator will next year give the go-ahead for a US exchange traded fund tracking the world’s second-biggest cryptocurrency.

Pricing in options, tools that let investors bet on future movements in financial assets, suggest market participants are wagering that ethereum will more than treble to $15,000 by March next year.

The move comes a week after the Securities and Exchange Commission cleared the way for the launch of the first bitcoin-linked ETF. Investors poured more than $1bn in to the ProShares Bitcoin Strategy fund, prompting it to buy up futures contracts that track the price of bitcoin. This, in turn, propelled the price of bitcoin to an all-time high.