Bloomberg Researchers Have Revealed the Potential Ethereum ETF Approval Rate
Eric Balchunas and James Seyffart, two analysts at Bloomberg, recently debated the prospect of Ethereum spot ETF applications being approved.
According to a note published on Friday, Bloomberg ETF analysts Eric Balchunas and James Seyffart have increased the likelihood that the US Securities and Exchange Commission (SEC) would approve Ethereum futures ETFs to 75%.
The SEC’s changed attitude towards cryptocurrencies and a recent uptick in filings with the agency are two reasons why analysts are optimistic.
Analysts claim that the SEC is softening its stance on cryptocurrency. Multiple Bitcoin futures exchange-traded funds (ETFs) have been authorised by the SEC. If the SEC rules against Ethereum futures ETFs, Balchunas and Seyffart think they will have legal recourse since the SEC has already approved Bitcoin futures ETFs with identical features and risks.
The introduction of Ethereum futures exchange-traded funds has been predicted for October, which would be exactly two years after the debut of Bitcoin futures.
However, James Seyffart emphasised in his statement that the ETH Spot ETF approval is simply a matter of time before both the Bitcoin Spot ETF and the futures Ethereum ETFs are granted.
He specified that the ETH Spot ETF might be approved at the earliest opportunity after the futures ETF application is approved.
However, they did caution that crypto ETFs face several challenges and unknowns, including the SEC’s position on whether Ethereum is a security or commodity.