Ether spot ETFs next: "70% chance of approval" - Bitcoin news - Uzmancoin - Cryptocurrency and Blockchain

Cryptocurrencies, which were once openly excluded by the traditional financial world, have now started to enter this field with a thump. While the official approval of Bitcoin spot ETFs by the SEC is a milestone in this regard, it is stated that Ether spot ETFs are next.

Bloomberg analyst Eric Balchunas, who is known to hundreds of thousands on social media during the acceptance process of Bitcoin ETFs, stated that there is a 70% chance that spot Ether ETFs will be accepted in May.

Starts at the end of May

The critical date for Ethereum spot ETFs seems to be May 23 (2024). This date stands out as the deadline for the SEC for VanEck's Ether spot ETF. On May 24, a decision must be made for the ARK Invest ETF. May 30 appears to be the last day of the Hashdex Ether ETF, with the dates pushed back to June. On June 18, the decision to convert the Grayscale Ether Fund into an ETF will have to be announced.

However, as with Bitcoin spot ETFs, the SEC can make a collective decision here.

Ether price rises

On the other hand, the adoption of Bitcoin spot ETFs has brought a rise in Ether, not the largest crypto! Last night, Ether price surpassed $2500 for the first time since May 2022.

The rise in Ether has also had a positive impact on some altcoins.

Published: January 11, 2024 10:25 am