The Impending Decision on Ethereum ETFs
The crypto community is eagerly awaiting the SEC’s decision on spot Ethereum ETFs scheduled for May 23.
- Bloomberg analyst Eric Balchunas suggests chances of approval are slim
- Polymarket gives approval odds at 16%
- Coinbase estimates a 30% to 40% chance of approval by month-end
Analyst David Han remains optimistic, citing potential surprises due to political factors and increasing crypto involvement in election campaigns, particularly with Donald Trump’s stance on digital assets.
Ethereum ETFs Boosted by Legal Developments
The recent US Department of Justice indictment for manipulating the Ethereum blockchain supports the probability of ETH ETF approvals.
- The indictment underscores network integrity and decentralization principles
- This legal case makes it less likely for SEC to categorize ETH as a security
These factors contributed to a surge in ETH prices, reaching nearly $3,100 on May 17 for the first time in ten days.
VanEck ETF Decision Due on May 23
The SEC will announce its decision on VanEck’s spot Ethereum ETF on May 23, with potential for reversal through litigation, according to Han.
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