Are We Getting Closer To Ethereum ETFs?
Whilst, in recent months, a plethora of other coins and tokens have taken the spotlight - from AI tokens to Solana-based memecoins. Ethereum has made a splash this week across crypto markets. Despite there being uncertainty in recent weeks and months as to whether there was even a chance of an Ethereum ETF getting SEC approval, there’s been a number of signals that the odds are better than first expected:
First, The Securities and Exchange Commission Engaging With Ethereum ETF Issuers: The SEC has recently started discussing the required paperwork that needs completing with ETF issuers. The back and forth between the SEC and ETF issuers regarding an Ethereum ETF is similar to the regulatory dance that was seen between these entities prior to the Bitcoin ETF approvals.
Also, Experienced Analysts Are Voicing Increased Odds: Senior Bloomberg analysts Eric Balchunas and James Seyffart have increased their odds of an Ethereum ETF approval from 25% to 75% - citing the Securities and Exchange Commission doing a 180 on this decision based on the growing political force of crypto.
Finally, The Market Signals Confidence: Since the news broke that the Securities and Exchange Commission could be reconsidering their position on an Ethereum ETF, Ether has seen nearly a 25% gain on the weekly. With such a strong showing from the second largest crypto, by market capitalisation, it appears that multiple entities are positioning themselves for ETF approval.
Whether Ethereum ETF’s are approved anytime soon or not, it’s clear that it has once again captured the interest of the wider markets.
