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Impending Approval? Denial of spot ETH ETFs was certain to occur at the outset of the week, but from the depths of multi-year lows on the ETH/BTC ratio echoed a “we’re so back” that has radically shifted the prevailing perception. Why are markets now anticipating approval, and have we already priced in the immediate upside?
Bloomberg’s ETF analysts increased their odds of spot ETH ETF approval threefold to 75% yesterday afternoon after hearing information that the SEC may have reversed its looming decision to deny the applications because crypto has increasingly become an election issue.
News that the SEC had asked exchanges SEC to update their 19b-4 filings for spot ETH ETFs on “an accelerated basis” broke shortly after Bloomberg updated its approval odds; this request likely would not have been made if denial was certain.
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