Ethereum ETF approval odds surge to 75%, ETH price jumps 8%
Bloomberg ETF analysts change their predictions as background noises from the SEC start.
Bloomberg ETF analysts Eric Balchunas and James Seyffart increased to 75% their odds of a spot Ethereum exchange-traded fund (ETF) being approved in the US. The previous odds were 25%. As a result, Ethereum (ETH) leaped 8.3% after the news.
Previously, both analysts explained that the low odds were related to the lack of background noise made by the SEC asking players about the ETF approval. However, due to political issues, Balchunas stated on X that the US regulator will “be doing a 180 on this.” Moreover, the odds at 75% are substantial, since Seyffart and Balchunas are still waiting on filing documents to boost it higher.
Seyffart joked on X about being criticized by Ethereum bulls since he and Balchunas were previously quenching their hopes up until now. “Never gonna hear the end of this from the .eth people in my replies if this turns out to be true. But it’s what we’re hearing from multiple sources. Should see a bunch of filings over coming days if we’re correct,” he posted on X.