Ethereum price has already risen slightly during US trading hours on Monday (Ethereum) The stock rose more than 10% after two Bloomberg ETF analysts significantly raised the likelihood that the U.S. Securities and Exchange Commission would approve the Spot ETH ETF.
“James Seifert and I are increasing the probability of approval for the Spot Ether ETF to 75% (from 25%). There is a 180% chance the SEC will do a 180% on this (increasingly political issue) this afternoon. Now everyone is freaking out (like us) because we heard that there is a sexual relationship (everyone else thought they were going to be rejected).” tweeted Eric Balchunas, senior ETF analyst at Bloomberg, said:
The SEC faces a number of final deadlines this week regarding approval/disapproval of spot ETFs, as it has repeatedly delayed decisions regarding funds.
Bitcoin (Bitcoin) It has been rising along with the rise of ETH and is currently up over 5% and just shy of the $70,000 level. The Grayscale Ethereum Trust (ETHE) is also starting to move. This is a closed-end fund that Grayscale is proposing to convert into a spot ETF. It had recently been trading at a discount of more than 20% to its net asset value as investors bet on SEC approval, but is now up more than 23% on Monday.
