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Bloomberg ETF analyst Eric Balchunas commented on this development in a May 29 X post, stating that this was a good sign. Balchunas elaborated that there would likely be another round to fine tune the SEC comments but maintained that the end of June launch is a legit possibility. He noted that while the approval odds around July 4 are more realistic, earlier approval would be a long shot.
Good sign. Prob see rest roll in soon. Then prob one more round of fine-tune comments from Staff. End of June launch a legit possibility altho keeping my o/u date as July 4thhas contributed to the bullish outlook for ETH. The approval of these ETFs is expected to increase institutional investment in Ethereum, providing a significant boost to its price. The falling wedge pattern, a technical analysis indicator that typically signals a bullish reversal, aligns with these expectations.
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