$ETH #Ethereum #ETH 🤓 Bloomberg increases the chances of approval of the spot Ethereum ETF to 75%

Bloomberg analyst Eric Balchunas increased the likelihood of approval of the Ethereum spot ETF from 25% to 75%.

The Securities and Exchange Commission (SEC) also asked issuers to update Forms 19b-4 (exchange rules).

However, both 19b-4s and S-1s (registration) approvals are required for an ETF to be approved.

The SEC is expected to approve 19b-4 and then drag its feet on S-1.

By the way, a decision on the first application is expected on May 23, a decision on the application from BlackRock in August.