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Crypto News – Spot Ether ETF Approval: How the SEC’s Delayed Approval Will Affect the Crypto Market?

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Crypto News - Spot Ether ETF Approval: How the SEC's Delayed Approval Will Affect the Crypto Market?

Crypto News – Analyzing the Effects of SEC’s Delayed Spot Ether ETF Approval

Crypto News - Analyzing the Effects of SEC's Delayed Spot Ether ETF Approval

Crypto News – Some analysts say that “there is room for surprise” despite the dismal predictions made by several cryptocurrency analysts and the larger crypto community regarding the SEC’s approval of the spot Ether ETF.

If by some chance the SEC decides to approve then so many will be caught severely offside. If 90% of people think the ETH ETF will be denied, and the majority of those people think it will lead to a crypto crash then who will actually be selling?

Matthew Hyland, crypto trader

According to data from CoinMarketCap, Ether is now trading at $3,117 as of this writing.

Coinbase Analyst Hopeful for ETF Approval

According to the New York-based cryptocurrency forecasting tool Polymarket, Bloomberg ETF analyst Eric Balchunas has estimated that there is a 35% chance of acceptance, while the majority of the cryptocurrency community has estimated that there is a 7% chance. As for the cryptocurrency exchange, “there is room for surprise to the upside on this decision,” according to David Han, institutional research analyst at Coinbase.

We believe the odds of approval are closer to 30-40%,

Han

According to Han, the SEC is unlikely to stick with its denial judgment if voters’ concerns about cryptocurrencies rise in the run-up to the November US presidential election.

FAQ

Have Ethereum ETFs been Approved?

The situation for a spot Ethereum ETF is becoming more compelling, and the SEC still hasn’t said much about it. Although it is doubtful that the ETFs will be approved anytime soon, it is still possible that they will be in late 2024 or early 2025.

What Are the Chances of Ethereum ETF Approval?

According to the wider crypto community, the chances of approval are only 7%.

For more up-to-date crypto news, you can follow Crypto Data Space.

Crypto News - Spot Ether ETF Approval: How the SEC's Delayed Approval Will Affect the Crypto Market?
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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