Bitcoin

Ether (ETH) Price and Bitcoin (BTC) Price Gain on ETF Approval Hopes

Published

6 months ago

on

Already modestly higher during US trading hours on Monday, the price of ether (ETH) jumped more than 10% after two well-followed Bloomberg ETF analysts greatly raised their odds of the U.S. Securities and Exchange Commission approving spot ETH ETFs.

“James Seyffart and I are increasing our odds of Ether spot ETF approval to 75% (up from 25%), hearing talk this afternoon that the SEC could be doing a 180 on this (increasingly political issue), so now everyone is fighting (as we all others assumed would be denied)”, tweeted Bloomberg Senior ETF Analyst Eric Balchunas.

The SEC this week faces a series of deadlines for approvals/denials of ETFs on the spot, after having postponed decisions on the funds several times.

Bitcoin (BTC) is adding to gains alongside ETH’s advance, now up more than 5% and just below the $70,000 mark. Also on the move is the Grayscale Ethereum Trust (ETHE), a closed-end fund that Grayscale has proposed converting into a spot ETF. It recently traded at a more than 20% discount to net asset value as investors bet against SEC approval, but it is now up more than 23% as of Monday.

´Source

Related Topics:

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Trending

Exit mobile version