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<ul class="news-points">
 <li>Analyst ups odds of spot ETH ETF approval to 75%</li>
 <li>ETH rose over $590; 19% increase in the past 24 hours</li>
 <li>Market surges on ETF approval speculation</li>
</ul>
Anticipation surrounding the potential approval of a spot ETH Exchange-Traded Fund (ETF) in the US has intensified after a Bloomberg ETF analyst significantly increased his estimate of the likelihood.
Eric Balchunas, who previously assigned a <a href="https://www.nasdaq.com/articles/slim-chances-of-ethereum-etf-approval:-bloomberg" target="_blank" rel="noopener noreferrer nofollow">low 25% chance of approval</a>, now sees a significantly higher probability of 75%. In a <a href="https://x.com/EricBalchunas/status/1792636523050906102" target="_blank" rel="noopener noreferrer nofollow">social media post</a>, Balchunas cited growing political pressure as a potential factor influencing the SEC decision-making.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “James Seyffart and I are increasing our odds of spot Ether ETF approval to 75% (up from 25%), hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling (like us everyone else assumed they’d be denied).”
</blockquote>
As shown by<a href="https://x.com/VeloData/status/1792707531883835409" target="_blank" rel="noopener noreferrer nofollow"> Velo data</a>, Balchunas’ statement sparked a surge in the price of ETH, which rose over $590, resulting in a $70 billion increase in market capitalization. This is Ether’s largest single-day increase in market value in history.&nbsp;
According to CoinMarketCap <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">data</a>, the price of ETH wa…
The post <a href="https://coinedition.com/green-light-for-ethereum-etfs-analyst-says-odds-are-looking-up/" rel="noopener noreferrer nofollow">Green Light for Ethereum ETFs? Analyst Says Odds Are Looking Up</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Green Light for Ethereum ETFs? Analyst Says Odds Are Looking Up

Coin Edition

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