Unexpected Development Regarding The Ethereum Etf: "Everything Is Going Well"

The cryptocurrency market is experiencing one of its most active evenings. Bloomberg has increased the approval likelihood of Ethereum ETF applications from 25% to 75%, and significant price increases are being observed.

While the U.S. Securities and Exchange Commission (SEC) was expected to reject Ethereum ETF applications, the situation seems to be changing.

Known for their accurate forecasts during the Bitcoin ETF process, Bloomberg ETF analysts Eric Balchunas and James Seyffart have indicated that the likelihood of approval for Ethereum ETF applications has increased from 25% to 75% in light of recent developments.

"Information Suggests the SEC Could Make a 180-Degree Turn..."

The first statement came from Balchunas. The ETF analyst said, "James and I are raising our odds of approval for a spot Ether ETF from 25% to 75%. This afternoon, we received information suggesting that the SEC could completely reverse its stance on this matter."

For now, Balchunas stated they are keeping the probability at 75%, but this could increase depending on updates to the ETF applications.

May 23 is the final decision date for the SEC. The agency is expected to announce its definitive decision on the applications by Thursday at the latest.

Today's developments have led to significant increases in cryptocurrency prices, including Bitcoin and Ether. Bitcoin approached $70,000, while Ether surpassed $3,400 after a long time.

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