Analysts Increase Odds for Spot Ethereum ETF Approval Following SEC Signal
Tuesday, 21 May 2024, 02:13
Renewed Optimism for Spot Ethereum ETF Approval
Analysts Balchunas and Seyffart from Bloomberg Intelligence have raised the odds of spot Ethereum ETF approval to 75%.
Eric Balchunas expressed the reason behind their increased optimism, mentioning the potential '180' turn by the SEC on the issue.
Key Takeaways:
- The SEC requested asset managers to update 19b-4 filings for spot Ethereum ETFs
- Nate Geraci from ETF Store predicts SEC approval for 19b-4s and a possible slow play for S-1s
- Increased odds apply to the 19b-4 deadline only, with S-1 approvals expected to follow
This positive development has sparked market enthusiasm and boosted Ethereum's price by nearly 20% in 24 hours.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.