Polymarket, a forecasting platform, offers spot forecasts until the end of May. Ethereum He found that there was a significant decrease in the probability of his ETF being approved. Odds, spot Bitcoin It fell to 28%, a stark contrast from the 74% predicted on Jan. 10, when ETFs were given the green light.
The US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs in January, sparking speculation about the potential approval of spot Ethereum ETFs. Asset managers including industry giants BlackRock and Fidelity have since filed identical applications.
However, the SEC had recently postponed its decision on BlackRock and Fidelity’s ETH ETF applications.
Analysts at Ryze Labs have expressed their opinions on this matter. They believe SEC Chairman Gary Gensler’s limited authority over spot Bitcoin ETFs gives the agency more leeway to reject future non-Bitcoin ETF applications:
“We view this as likely and believe Gensler’s legacy is that he does not want to be the Chairman of the SEC approving the crypto asset class by approving multiple ETFs.”
*This is not investment advice.
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