Ethereum ETF Approval Odds Suddenly Surge. Here's Why

Prior to this, the industry consensus appeared to be that these ETFs would be denied due to the lack of engagement between ETF issuers and the SEC. The Bloomberg analysts claimed that the probability of these products being greenlit by the regulator was just 10%. However, former Grayscale CEO Michael Sonnenshein said that he was Following the latest developments, Seyffart and Balchunas have now capped the approval odds at 75% until they see possible filing updates.

According to GlassGlass data, more than $86 million worth of shorts has been liquidated over the past hour alone. 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.Today, CryptoComes and other fintech media outlets.

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