Expectations of acceptance of the highly-anticipated Ethereum Exchange-Traded Funds (ETFsAs top analysts and industry experts voice doubts, the chances of it being approved are decreasing. They cite a steady decline in approval rates over time.
Ethereum ETFs approval odds fall to 35%
Eric Balchunas, a Bloomberg Intelligence ETF analyst, reported on Monday that Ethereum’s approval odds for a spot ETF have dropped dramatically in recent months. Eric Balchunas posted a message on the social media site X (formerly Twitter). share The update on the crypto community.
The expert says that the chances of us getting the ETH Standard Chartered predicted that the United States Securities and Exchange Commission will approve ETFs by May, the deadline for which they had set.
Balchunas originally estimated that 70% of ETFs could be approved in May. So this is a big departure from the forecasts he made back in January. Bloomberg analysts have stated that they believe there are many reasons why the Commission should approve spot ETFs.
This time, however, he said, “none of the sources or indicators that gave them a bullish 2.5-month outlook” Bitcoin Spot ETFs currently exist. The products are still uncertain in the wider crypto-scape.
Balchunas, however, has encouraged the community to not lose all hope as there’s a possibility that Ethereum Since a 35% chance is not zero, it suggests that approval could happen in the future.
Balchunas posted in response to Fox journalist Eleanor Terret’s post. Her thoughts about the matter. Eleanor Terret, pointing out Jake Chervinsky’s opinion stated that she agreed with it. “has been hearing” Regarding the approvals.
However, this does not mean the products are not going to be approved within the current year. The spokesperson also stated that the products have not yet been accepted. “any significant interaction from SEC officials” Please see the following information regarding application forms. “the May deadline is rapidly approaching.” Terret expressed optimism regarding the approval. “the agency might take a nosedive on their engagement in April or May.”
BTC and ETH ETFs have different cycles
James Seyffart has offered his opinion on the subject. Seyffart, who added his insights to Eric Balchunas, noted that “Ethereum ETF cycles presently seem to be reversed of previous trends.” Bitcoin ETF “Application probabilities”
Seyffart underscored how “his optimism decreases as they observe and hear more, and as they do not observe and hear more.” Seyffart says that the approval deadline is less than “73 days away,” It seems that there hasn’t been any progress.
Polymarket, the world’s biggest prediction market, also confirms the drop in odds. Data The platform currently shows Ethereum ETF odds at 36%.
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Source: bitcoinist.com