<\/p>\n
Bloomberg analyst Eric Balchunas said he \u201cheard chatter\u201d the SEC could be reversing their stance.\n<\/p>\n
Two of the industry\u2019s top ETF analysts have increased the likelihood of a spot Ethereum ETF approval to 75% from 25% as the Securities and Exchange Commission (SEC) approaches its May 23 deadline to respond to the first applications.<\/p>\n
Blackrock and Fidelity are the first to receive a response from the SEC.<\/p>\n
According to<\/a> Bloomberg analysts Eric Balchunas and Jeff Seyffart, the increase is due to Balchunas \u201chearing chatter this afternoon that the SEC could do a 180.\u201d He said ETF filings have become increasingly a political issue.<\/p>\n Ethereum soared<\/a> by more than 12% to $3,428 as speculation mounts. The token is approaching the $3,500 mark for the first time since early April. <\/p>\n Meanwhile, Grayscale\u2019s Ethereum ETF fund has spiked even more, flying 23% now trading for $28.80. But ETH isn\u2019t alone in its price action, and has sent the entire crypto market flying. Bitcoin jumped 5% as it approaches the $70,000 mark.<\/p>\n After the spot Bitcoin ETFs took nearly ten years to get approved, analysts remained mostly bearish<\/a> that the Ethereum ETF could take a more expedited route. But that appears to have changed, and has caught most off guard, including Balchunas and his colleague Seyffart.<\/p>\n \u201cNow everyone is scrambling (like us, everyone else assumed they\u2019d be denied),\u201d he posted on X, adding that they have capped the likelihood at 75% pending more information, and updates on filings.<\/p>\n Several of the world\u2019s largest asset managers have filed for a spot Ethereum ETF. The latest was $1.6 trillion fund Franklin Templeton,<\/a> who joined $4.6 trillion Fidelity which had recently added ETH staking<\/a> to its filing.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Bloomberg analyst Eric Balchunas said he \u201cheard chatter\u201d the SEC could be reversing their stance. Two of the industry\u2019s top ETF analysts have increased the likelihood of a spot Ethereum ETF approval to 75% from 25% as the Securities and Exchange Commission (SEC) approaches its May 23 deadline to respond to the first applications. Blackrock […]<\/p>\n","protected":false},"author":2,"featured_media":289239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-306026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306026","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=306026"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306026\/revisions"}],"predecessor-version":[{"id":306051,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306026\/revisions\/306051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/289239"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=306026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=306026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=306026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}