Bloomberg analyst Eric Balchunas wrote that he has increased the chance of spot Ethereum ETF approval from 25% to 75%
The Zhitong Finance App learned that on Monday (May 20), Bloomberg analyst Eric Balchunas wrote that he had increased the chance of spot Ethereum ETF approval from 25% to 75%. He said that he has heard some rumors that the US Securities and Exchange Commission (SEC) may make a 180-degree shift on this issue, so now everyone is desperately preparing.
Bloomberg analyst James Seyffart wrote on the X platform: “Simply put, Eric Balchunas increased the chance of spot Ethereum ETF approval to 75%. But this is a 19B-4 document for VanEck's May 23 deadline. We also need approval of an S-1 document. It could take weeks to months before seeing S-1 documents approved and the actual Ethereum ETF going live. Having said that, if our judgment is correct, and we see these theoretical approvals later this week, the question of approval of the S-1 document will be 'when' rather than 'if'.”
Well-known cryptocurrency analyst Jake Chervinsky pointed out that if a spot Ethereum ETF were approved, it would be “shocking” to everyone he knows in Washington.
The price of Ethereum has surged more than 8% over the past hour to reach the level of $3,400. Meanwhile, the price of Bitcoin is close to $70,000. Ethereum's open positions increased by $1 billion in just one hour, and traders “actively” opened long positions. More than $86 million of short positions have been liquidated in the past hour alone, according to GlassGlass data.