Breaking News: Surprise development in Ethereum ETF: “Things are getting better”

The cryptocurrency market is experiencing one of its most eventful evenings. Bloomberg has increased the probability of approval for #Ethereum #ETF applications from 25 percent to 75 percent, while there are also sharp rises in prices.

The weather seems to be changing, with the US Securities and Exchange Commission (SEC) expected to reject $ETH ETF applications.

Bloomberg ETF analysts Eric Balchunas and James Seyffart, known for their successful predictions in the Bitcoin ETF process, announced that the probability of approval of Ethereum ETF applications has increased from 25 percent to 75 percent following recent developments.

"Information that the SEC can spin 180 degrees...”

The first statement came from Balchunas. The ETF analyst said, "James and I are increasing our probability estimate of a spot Ether ETF approval from 25 percent to 75 percent. We received information this afternoon that the SEC may swing 180 degrees on this issue.” he used his expressions.

Balchunas stated that they are keeping the probability ratio at 75 percent for now and stressed that this ratio may increase according to the updates to be made in the ETF applications.

May 23 is the deadline for a decision for the SEC. The institution is expected to announce its final decision on the applications no later than Thursday.

Today's development has led to big increases in the prices of cryptocurrencies, especially Bitcoin and Ether. Bitcoin is based on 70 thousand dollars, while Ether also exceeded 3 thousand 400 dollars a long time later.

#ETHETFS #binance