Rumors of imminent ETF approval spur ethereum price jump
The regulatory vibe may be shifting.
Bloomberg analysts surprised the crypto world today, saying the chance that the SEC will approve at least one spot ethereum ETF later this week had spiked to 75%. As recently as last week most experts had pegged the likelihood at 25% or less.
“Hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling (like us everyone else assumed they’d be denied),” ETF analyst Eric Balchunas wrote on X.
Word of a potential regulatory change of heart sent the price of the second-largest crypto up to over $3,500 at this writing.
The SEC faces a deadline to either approve or deny spot ethereum ETF applications from VanEck and Ark Invest/21 Shares later this week. If approved, experts say these ETFs could pull up to $45 billion in investment into the coin within the first year.
“Hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling (like us everyone else assumed they’d be denied),” ETF analyst Eric Balchunas wrote on X.
Word of a potential regulatory change of heart sent the price of the second-largest crypto up to over $3,500 at this writing.
The SEC faces a deadline to either approve or deny spot ethereum ETF applications from VanEck and Ark Invest/21 Shares later this week. If approved, experts say these ETFs could pull up to $45 billion in investment into the coin within the first year.
