Don’t Set Your Expectations Too High! Bloomberg ETF Analyst Lowers Probability of Approval for Ethereum Spot ETF to 35%

Don't Set Your Expectations Too High! Bloomberg ETF Analyst Lowers Probability of Approval for Ethereum Spot ETF to 35%

Don't Set Your Expectations Too High! Bloomberg ETF Analyst Lowers Probability of Approval for Ethereum Spot ETF to 35%

According to a previous report by Zombit, Fox Business reporter Eleanor Terrett recently revealed concerns in the market regarding the Ether spot ETF. Besides Eleanor Terrett, other industry professionals also expressed similar doubts yesterday.

Jake Chervinsky, Chief Legal Officer of Variant Fund, shared his skeptical attitude towards the Ether spot ETF on X platform last night. In his article, Jake Chervinsky listed many reasons emphasizing that, from the perspective of the U.S. Securities and Exchange Commission (SEC), the possibility of rejecting the approval of the Ether spot ETF is higher.

Looking back at the approval of the Bitcoin spot ETF by the SEC, there were many rumors circulating in the market about SEC staff actively working on related matters. However, so far, we have not seen the same signals or reports regarding the Ether spot ETF. With only just over two months left until the deadline on May 23rd, the probability of rejection will be higher if the SEC continues to remain silent. Jake Chervinsky stated:

Meanwhile, Eric Balchunas, an ETF analyst at Bloomberg, also posted on X platform, stating that he has lowered the probability of approval for the Ether spot ETF from 70% estimated in January to 35%. Eric Balchunas said:

Another Bloomberg analyst, James Seyffart, also agrees with Eric Balchunas’ thoughts and states that he has not seen any substantial progress between issuers and the SEC regarding the Ether spot ETF, which makes him increasingly pessimistic.