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%.
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