Bloomberg senior ETF analyst Eric Balchunas reiterated that the likelihood of a spot Ethereum ETF approval is “very low.”
ETF analyst Eric Balchunas maintained his pessimistic attitude towards spot Ethereum ETF in a social media post dated March 26.
The analyst limited the likelihood of the US approving spot Ethereum exchange-traded funds (ETF) in May to 25% and said that the probability was a pessimistic 25%.
As a reason for this pessimistic attitude, the Securities and Exchange Commission’s (SEC) pessimistic moves against spot Ethereum ETF issuers and the lack of participation are cited:
Despite the very pessimistic 25% chance of approval for the Ethereum ETF, we keep the chance at 25%. The lack of participation is seen as a sign of delays. There are no positive signs/intelligence anywhere. I personally hope they will approve it, but the situation does not look good.
In early January, the approval rate for spot Ethereum ETFs was 70% following the approval of spot Bitcoin ETFs. The expected approval for May, along with the SEC’s moves during the process, has almost fallen through.
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