<\/p>\n
Bloomberg analysts have significantly reduced the likelihood of a spot Ethereum exchange-traded fund (ETF) being approved by the U.S. Securities and Exchange Commission (SEC) by May. <\/p>\n
The SEC\u2019s silence and inaction have led analysts to reassess the chances of a spot Ethereum ETF approval, with Bloomberg Senior ETF Analyst Eric Balchunas now estimating a 30% probability, down from his January prediction of 70%.<\/p>\n
The absence of typical pre-approval activities, such as filing changes and issuer engagement, has been a cause for concern among industry experts. <\/p>\n
The revised estimates come as the SEC has not provided feedback or engaged with ETF issuers, which is typically part of the approval process. <\/p>\n
The lack of movement and communication from the SEC has dampened the previously optimistic outlook for the approval of a spot Ethereum ETF, contrasting with the successful launch of spot Bitcoin ETFs.<\/p>\n
The SEC\u2019s stance on Ethereum as a security, as opposed to a commodity like Bitcoin, may influence its decision-making process. SEC Chair Gary Gensler\u2019s previous political challenges following the approval of spot Bitcoin ETFs and a court loss to Grayscale in August 2023 could also be factors in the SEC\u2019s current approach. <\/p>\n
Ethereum traded at around US$3,970, at 3 p.m. ET, according to CoinGecko.<\/p>\n
\n Post Views:<\/span> 71<\/span>\n<\/p>\n<\/div>\n \t\t!function(f,b,e,v,n,t,s) Bloomberg analysts have significantly reduced the likelihood of a spot Ethereum exchange-traded fund (ETF) being approved by the U.S. Securities and Exchange Commission (SEC) by May. The SEC\u2019s silence and inaction have led analysts to reassess the chances of a spot Ethereum ETF approval, with Bloomberg Senior ETF Analyst Eric Balchunas now estimating a 30% […]<\/p>\n","protected":false},"author":2,"featured_media":263786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-263785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/263785","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=263785"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/263785\/revisions"}],"predecessor-version":[{"id":263788,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/263785\/revisions\/263788"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/263786"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=263785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=263785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=263785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\t\t{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
\n\t\tn.callMethod.apply(n,arguments):n.queue.push(arguments)};
\n\t\tif(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
\n\t\tn.queue=[];t=b.createElement(e);t.async=!0;
\n\t\tt.src=v;s=b.getElementsByTagName(e)[0];
\n\t\ts.parentNode.insertBefore(t,s)}(window, document,’script’,
\n\t\t‘https:\/\/connect.facebook.net\/en_US\/fbevents.js’);
\n\t\tfbq(‘init’, ‘1890501017821908’);
\n\t\tfbq(‘track’, ‘PageView’);<\/p>\n","protected":false},"excerpt":{"rendered":"