Ethereum Spot ETF Approval This Month at 75%: Bloomberg Analyst
CryptoNewsTerminal Staff20 May, 2024
Ethereum Spot ETF Approval This Month at 75%: Bloomberg Analyst
Bloomberg ETF analyst Eric Balchunas has predicted that the SEC is likely to approve a spot Ethereum ETF this month, giving it a 75% chance of happening. In a recent statement, Balchunas said, "I've heard some chatter today that the SEC might do a 180 on this." This news comes after the SEC has repeatedly delayed the approval of spot Bitcoin ETFs in the past. If approved, this would be the first spot Ethereum ETF to be listed in the United States. A spot ETF tracks the price of the underlying asset, in this case Ethereum, and allows investors to trade it without having to hold the physical asset. This would make it easier for investors to gain exposure to Ethereum and potentially reduce the volatility of the cryptocurrency market.
