🌋 Shift in Analysts' Predictions for Ethereum Spot ETF
postedΒ 11 Mar 2024
Eric Balchunas, the Senior ETF analyst at Bloomberg, has scaled back his optimism regarding the approval of a spot Ethereum ETF, now assessing the chances at 35% by the May deadline. He emphasizes, however, that approval remains a possibility, especially looking ahead to the longer term.
His colleague, James Seyffart, also expressed his views on social network X:
This #Ethereum ETF cycle feels like the opposite of #Bitcoin ETF approval odds at the moment. The more we see/hear (and don't see/hear) the less optimistic I become. We're ~73 days from the deadline and there really seems to be little to no movement.
Moreover, Jake Chervinsky, the Chief Legal Officer at Variant, has added his bearish sentiments to the overall ETH ETF perspective. He mentioned that the SEC harbors a general dislike for cryptocurrency and views opposition to it as a political gain. According to him, the SEC is intent on satisfying government officials and skeptics of cryptocurrency. He also criticized the SEC for its lack of initiative in addressing the specifics required for an ETF's approval and listing.
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