Alex Dovnya
Spot Ethereum ETF is still unlikely to be approved in the US, according to top analysts
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“It's been a long time coming,” said James Seifert, a prominent Bloomberg analyst who covers ETFs and the broader fund industry. clarified It is still unlikely that a spot Ethereum ETF will be approved in the US.
Before that, he made an April Fool's joke about the Ethereum ETF's approval probability soaring to 99%, causing excitement in the crypto community.
“Sorry I had to join in the fun,” the analyst quipped on the X social media network.
as Reported by U.TodayCryptocurrency asset management company Bitwise recently filed a new Ethereum ETF application with the U.S. Securities and Exchange Commission.
However, Eric Balciunas, senior ETF analyst at Bloomberg, was quick to throw cold water on Bitwise's efforts, saying the probability of Ethereum ETF approval remains at a “pessimistic” 25%. Additionally, Balciunas said it could be “even lower” than that, if possible. “Again, I personally want them to approve, but I also want to make the right decision so that I can get a perfect 4-4 on my crypto ETF predictions. ' he added.
Ethereum ETF approval odds last month plummeted After the SEC delayed decisions on a number of existing proposals. Legal analyst Jake Cherbinski speculated that political pressure could be one of the main reasons for the SEC's reluctance.
Furthermore, various reports suggest that the SEC plans to classify the second-largest cryptocurrency as a security, which could further complicate the approval process.
That said, BlackRock CEO Larry Fink recently revealed that a Spot Ethereum ETF could be approved even if the top altcoin becomes a security. The financial giant filed for a spot-based Ethereum ETF last November.
In January, the SEC gave the green light to various spot Bitcoin ETFs from BlackRock, Fidelity, and other big-name companies.
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Alex Dovnya
