Analysts Increase Likelihood of Spot Ethereum ETFs Approval

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There has recently been a shift in the outlook of Bloomberg’s top ETF analysts regarding the approval of spot Ether ETFs by the US government.

Initially seen as unlikely, Eric Balchunas and James Seyffart now believe that the chances of these new financial instruments being approved are much higher.

Balchunas shared on Monday that he and Seyffart have increased the odds of spot Ether ETF approval to 75%, citing talks within the SEC that suggest a change in the regulatory stance.

Seyffart also expressed a positive sentiment on social media, stating that there has been progress this week towards approving spot Ether ETFs.

In response to their comments, Ether saw a significant increase of 16% in its value, rising from $3,090 to $3,560 in a timeframe of 22 minutes.

Sources have revealed that discussions between the SEC and potential issuers of spot Ether ETFs have been ongoing, adding to the speculation of potential approval.