{"id":258371,"date":"2024-03-03T23:53:32","date_gmt":"2024-03-03T18:23:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/crypto-gamblers-divided-on-approval-odds-crypto-news\/"},"modified":"2024-03-03T23:53:34","modified_gmt":"2024-03-03T18:23:34","slug":"crypto-gamblers-divided-on-approval-odds-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-gamblers-divided-on-approval-odds-crypto-news\/","title":{"rendered":"Crypto Gamblers Divided On Approval Odds &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">There seems to be some division amongst crypto gamblers about the prospective timeline and odds that the United States Securities and Exchange Commission (SEC) will give its nod to spot Ethereum ETFs <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/breaking-sec-gives-nod-to-spot-bitcoin-etf-opens-door-for-trading\/\"><span style=\"font-weight: 400;\">like it did with Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400;\"> in January.\u00a0<\/span><\/p>\n<h2><strong>Polymarket Insight on Spot ETH ETF<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">There are speculations that the agency may approve the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/spot-ethereum-etf-us-sec-delays-decision-on-blackrocks-application\/\"><span style=\"font-weight: 400;\">spot Ethereum ETF<\/span><\/a><span style=\"font-weight: 400;\"> applications that have been filed to its office by May 31. However, a chart from Polymarket, a renowned prediction market, shows that the odds of having a positive decision from the SEC by the proposed time is not even up to 50%.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<figure id=\"attachment_183824\" aria-describedby=\"caption-attachment-183824\" style=\"width: 958px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-183824\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Polymarket-Ethereum-.jpg\" alt=\"\" width=\"958\" height=\"541\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Polymarket-Ethereum-.jpg 958w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Polymarket-Ethereum--300x169.jpg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Polymarket-Ethereum--768x434.jpg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/Polymarket-Ethereum--150x85.jpg 150w\" sizes=\"auto, (max-width: 958px) 100vw, 958px\"\/><\/noscript><figcaption id=\"caption-attachment-183824\" class=\"wp-caption-text\">Spot ETH ETF Approval Odds. Source: Polymarket<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Precisely, the odds of receiving approval by the next two months are now at 45% per the crypto gambling marketplace.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This percentage and the chart trend confirm that crypto enthusiasts are double-minded, indicating that they are not positive that the SEC will grant the requests of the filers. As of January 10, one day before spot Bitcoin ETFs went live, the enthusiasm and optimism for spot Ethereum ETF approval were heightened. At the time, there was more than an 80% odds of receiving the approval.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">Since that time, there has been some fluctuation concerning the odds and it has gradually dropped to the present point. Some experts have shared their thoughts on the possibility of having the approval within the next few months. Some of these experts were somewhat certain about the spot Ethereum ETF approval.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<h2><strong>Swindling Optimism Regarding Spot Ethereum ETF Approval<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Unlike the pessimism showcased on Polymarket, Senior Bloomberg ETF Analyst James Seyffart estimated a 60% odd of spot Ethereum ETFs receiving <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/spot-ethereum-etf-has-60-chances-of-approval-by-may-23-else-in-2025\/\"><span style=\"font-weight: 400;\">approval in May<\/span><\/a><span style=\"font-weight: 400;\">. As the SEC started postponing its decision on the individual requests of the filers, including that of <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ethereum-etf-by-grayscale-delayed-as-sec-awaits-public-input\/\"><span style=\"font-weight: 400;\">Grayscale Investments<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/spot-ethereum-etf-us-sec-delays-decision-on-blackrocks-application\/\"><span style=\"font-weight: 400;\">BlackRock<\/span><\/a><span style=\"font-weight: 400;\">, analysts began to reconsider their prediction.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By February, Bernstein analysts, Gautam Chhugani and Mahika Sapra,\u00a0were already talking about a <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/eth-options-ethereum-sees-largest-single-block-trade-of-17-million-whats-next\/\"><span style=\"font-weight: 400;\">50% likelihood<\/span><\/a><span style=\"font-weight: 400;\"> of an Ethereum investment vehicle entering the market as early as May.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">This clearly shows how the optimism toward spot Ethereum ETF approval has declined with time and market realities. Individuals like CNBC\u2019s Mad Money host Jim Cramer still believe that there is a <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/jim-cramer-issues-unexpected-ethereum-etf-prediction\/\"><span style=\"font-weight: 400;\">high probability<\/span><\/a><span style=\"font-weight: 400;\"> that the approval will come very soon.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cramer\u2019s speculation was, however, based on the huge success recorded by spot Bitcoin ETFs. <\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/spot-ethereum-etf-crypto-gamblers-divided-on-approval-odds\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/spot-ethereum-etf-crypto-gamblers-divided-on-approval-odds\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA183823\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<div class=\"authodes\">\n<p>Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. 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<\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There seems to be some division amongst crypto gamblers about the prospective timeline and odds that the United States Securities and Exchange Commission (SEC) will give its nod to spot Ethereum ETFs like it did with Bitcoin ETFs in January.\u00a0 Polymarket Insight on Spot ETH ETF There are speculations that the agency may approve the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":234747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-258371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/258371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=258371"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/258371\/revisions"}],"predecessor-version":[{"id":258372,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/258371\/revisions\/258372"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/234747"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=258371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=258371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=258371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}