The anticipation surrounding the approval of an Ethereum (ETH) ETF by the U.S. Securities and Exchange Commission (SEC) before the May 23rd deadline is diminishing. Discussions and meetings have been occurring between the SEC, Coinbase, and Grayscale, reminiscent of the period leading up to the Bitcoin ETF approval. However, Bloomberg analyst Eric Balchunas noted the lack of comments from SEC staff on the Ethereum spot ETF application, contrasting with the Bitcoin ETF situation. Forbes reporter Eleanor Terrett reported a fading confidence in the approval amid opposition from anti-cryptocurrency figures like Senator Warren. The market's reaction to the potential approval or denial of the ETH ETF is mixed, with prediction markets showing varying odds, but the general sentiment is cautious. The outcome of the SEC's decision is highly anticipated, as it could significantly impact Ethereum's price and the broader cryptocurrency market.
🚨BREAKING: BLOOMBERG ANALYSTS DECREASE CHANCES OF SPOT #ETHEREUM ETF IN MAY TO JUST 30%
This #Ethereum ETF cycle feels like the opposite of #Bitcoin ETF approval odds at the moment. The more we see/hear (and don't see/hear) the less optimistic I become. We're ~73 days from the deadline and there really seems to be little to no movement https://t.co/N6OpM870XF
if the ETF actually gets approved in May we will see a multi-thousand dollar day for ETH soon thereafter too risky to be sidelined hold spot and stake
ETH ETF approval in May is bullish. Delay is also bullish - longer cycle. https://t.co/zTUczOwW2f
Prediction markets at 30% for ETH ETF approval in May. Most ETF "experts" and crypto lawyers saying no approval coming. Market is pricing in an ETH ETF denial yet ETH is racing towards ATH, keeping pace with BTC. Imagine what happens if everyone is wrong...
Prediction markets at 10% for ETH ETF approval in May. Most ETF "experts" and crypto lawyers saying no approval coming. Market is pricing in an ETH ETF denial yet ETH is racing towards ATH, keeping pace with BTC. Imagine what happens if everyone is wrong...
It brings me no joy to be an ETH ETF bear. I’ve been working for Ethereum in one sense or another for 5+ years. I want the ETF to be approved. It should be. But I’m calling it like I see it, and I see an SEC that: (1) dislikes crypto as a concept, sees no value in the…
Polymarket down to 36% approval odds based on this. Looks like Ether ETF is in for a fight; likely same jig as the BTC ETF. Grayscale lawsuit took a year to win the judgment in the appellate court, about 1.5 years later the BTC ETF was finally approved. https://t.co/6rUAtNOlXZ https://t.co/lhtkrxJbLp
Will the Ethereum ETF be approved by May? In today's article, we'll explore the growing anticipation surrounding the potential approval of ETH ETFs and rising institutional interest in Ethereum. https://t.co/shB4xrn6wu
UPDATE: FORBES REPORTER ELEANOR TERRET REPORTS FADING CONFIDENCE IN SEC APPROVING ETH SPOT ETF BEFORE MAY 23 AMID OPPOSITION FROM ANTI-CRYPTO FIGURES LIKE SENATOR WARREN
UPDATE: FORBES REPORTER ELEANOR REPORTS FADING CONFIDENCE IN SEC APPROVING ETH SPOT ETF BEFORE MAY 23 AMID OPPOSITION FROM ANTI-CRYPTO FIGURES LIKE SENATOR WARREN
Wen ETH ETF? Deserving of a countdown 😀 https://t.co/B3dETBFzks https://t.co/jjR8MwclBl
Assume, for a moment, SEC denies ETH spot on May 23rd. Assume further that SEC bases that denial on correlation concerns. The big question will be how does the SEC thread the needle a week later on May 30. https://t.co/ibuf8UonTd
[𝕏] FOX reporter @EleanorTerrett said that optimism about the SEC’s approval of the $ETH spot ETF before May 23 is waning. Anti-cryptocurrency politicians such as Senator Warren are rallying against the passage of the ETF, and SEC staff have not really promoted it meaningfully https://t.co/VKSABVNBeR
Forbes reporter Eleanor Terrett said that optimism about the SEC’s approval of the ETH spot ETF before May 23 is waning. Anti-cryptocurrency politicians such as Senator Warren are rallying against the passage of the ETH SPOT ETF, and SEC staff have not really promoted it…
It appears some believe the ETH ETF is not going to happen. And that makes me wonder what will happen to the SEC if they don't approve BlackRock's proposal in August.. Can the SEC afford the battle here? It's not like Gensler is between a rock and a hard place like he was…
imo, don't make levered bets on a spot ETH ETF being approved in May accumulate spot and chill i do believe eventual approval is inevitable, but SEC could try delay tactics and take it to court, etc. don't put too much pressure on one day/decision
If ether futures aren’t *highly* correlated w/ spot market, then why did SEC approve ether futures ETFs in Oct… How does that protect investors? Not saying SEC gonna approve spot ether ETFs, but not sure how they deny based on lack of correlation. Would be pretty bad look IMO.
What happens to SOL if ETH ETF gets rejected?
ETH ETF denial won't kill ETH. But it will certainly impact the momentum, and give it a short-term stain if it's denied. I think people are more optimistic because of the BTC ETF, which means a possible denial will result in a bigger dump. Worth keeping an eye on May 23rd.
🚨SCOOP: Optimism about the @SECGov approving the $ETH spot ETFs by May 23rd is waning. Based on my conversations with people familiar, meetings in recent weeks have been very much one sided, with issuers and custodians trying to rally SEC staff to get the process rolling, but…
If ETH ETF is approved, it'll lead into SOLs run way past ATHs and SOLETH going to new highs. ETH will also do well. If ETH ETF is rejected (my base case), it'll lead into SOLs run way past ATHs and SOLETH going to new highs. ETH will crab til the next ETF decision period late…
Bloomberg analyst Eric Balchunas said that the staff of the U.S. SEC has not yet given any comments to the issuer of the Ethereum spot ETF application, which is not a good sign because the staff commented on the Bitcoin spot ETF at that time. Furthermore, the correlation between…
SEC talked with Coinbase and Grayscale regarding Ethereum ETF. This is exactly what happened a few months before Bitcoin ETF got approved. I believe we'll see ETH ETF get approved sooner, rather than later. Get exposure to Ethereum before blasts off to new ATHs. https://t.co/X2dFB58S36
Will an Ethereum ETF happen in 2024?
Gary Gensler asked about May 23rd deadline for Ethereum ETF 👀 The more I hear, the more I think that they’ll be able to prove it’s a security. https://t.co/fJqXpTAon3