Don't Be Fooled: Ethereum ETF Still Unlikely, According to Top Analyst

Before that, he injected some excitement into the crypto community by making an April Fools' Day joke about Ethereum ETF approval odds skyrocketing to 99%.However, Eric Balchunas, Bloomberg's senior ETF analyst, was quick to pour some cold water on Bitwise's effort, stating that the odds for Ethereum ETF approval remain at a"pessimistic" 25%. Moreover, Balchunas has stated that he could go"even lower" than that if he could.

Moreover, according to various reports, the SEC intends to classify the second-largest cryptocurrency as a security, which could further complicate the approval process. That said, BlackRock CEO Larry Fink recently clarified that a spot Ethereum ETF could be approved even if the top altcoin ends up being a security. The financial behemoth filed for a spot-based Ethereum ETF last November. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.

Tim Draper Teases 10-Year Return on His Epic BTC Bet, Surprising ETH Long-Term Indicator Appears, 16 Million XRP Bought by Single Whale on Korean Exchange: Crypto News Digest by U.Today The Kyushu Exploration Team and FiNANCiE Started Collaboration to Launch the Future Coexistence Project Aimed at Supporting Producers and Businesses in KyushuTim Draper Teases 10-Year Return on His Epic BTC Bet, Surprising ETH Long-Term Indicator Appears, 16 Million XRP Bought by Single Whale on Korean Exchange: Crypto News Digest by U.Today

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