Analysts Predict 75% Likelihood of Approval for US Ethereum Futures ETF in 2023 Amid Surge in Applications

Bloomberg’s ETF analysts, James Seyffart and Eric Balchunas, have significantly boosted the likelihood of a US Ethereum (ETH) futures ETF gaining approval this year, estimating a 75% chance. 

This surge in probability follows a wave of Ethereum futures ETF applications submitted to the US Securities and Exchange Commission (SEC). The SEC’s evolving stance on cryptocurrencies. Evident from its communication with ETF issuers, suggests a shift in approach. Balchunas predicts an October approval for the Ethereum futures ETF. Marking a two-year gap since the first Bitcoin (BTC) futures ETF was greenlit. While the wait continues for a US Bitcoin spot ETF approval. Attention is now focused on BlackRock’s June application. A potential gateway for investors to gain crypto asset exposure through brokerage firms, akin to commodities like gold.

Clever Robot News Desk 7^th August 2023