Cryptocurrency research company 10x research SEC approval is more likely Ethereum 
ETHUSD We will increase the spot ETF to 90% later today.
what happened: In its latest newsletter, 10x Research deemed the approval a “formal” move, noting the SEC chairman's X-posting: Gary Gensler Alert investors to potential risks. Bitcoin The January ETF could go on sale around 9 a.m. ET. This is usually a sign that approval is immediate.
The analytics platform highlighted: Grayscale Ethereum Trust 
Ete has narrowed its discount to net asset value (NAV) to 8% from 30% a week ago.
“An 8% discount means the ETF has at least a 90% chance of approval,” the company noted.
The research firm also predicted that the approval would be a “news-selling” event. These concerns are in line with the moves of Ethereum's co-founders. Jeffrey Wilk Someone sent almost 10,000 ETH to a crypto exchange kraken.
#Ethereum Co-founder Jeffrey Wilke (jeff) 10,000 was deposited $ETH (from $37.38 million) #kraken About 2 hours ago, it was $3,738.
Since the start of 2024, he has deposited 24,300. $ETH The last deposit was made before the price started skyrocketing and was deposited into Kraken for approximately $3,108 ($75.52 million).
Currently, Jeffrey… pic.twitter.com/sERRId8yfj
Why is this important: The mood in the virtual currency market was positive. VanEck Spot Ether ETF was listed by the Depository Trust and Clearing Corporation (DTCC), a necessary precursor to SEC approval. Note that a final decision on VanEck's application is expected from the SEC later today.
In addition, many other ETF nominees, including BlackRock Inc., are also on board. 
black We have amended our 19b-4 filing for the Spot Ethereum ETF.
Meanwhile, the approval probability of decentralized prediction market Polymarkets rose to 67%.
Price Trends: At the time of writing, Ether was trading at $3,785.04, up slightly by 0.83% over the past 24 hours, according to data from Benzinga Pro.
Read next: Dogecoin Reversal Imminent, Says Analyst – Predicting Over 30% Rise
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