Ethereum Surges on Anticipation of Ethereum Spot ETF Approval

Following the recent approval of 11 spot Bitcoin ETFs, industry analysts believe that the likelihood of a spot ETH ETF receiving regulatory approval has significantly increased.

Bloomberg ETF analyst Eric Balchunas said he estimates a 70% chance that spot ETH ETFs will be approved by May — which is the month the SEC must make a final decision for several applications — though he said the timing for launch was less clear.

James Seyffart, another Bloomberg ETF analyst, shares Balchunas' optimism, citing the SEC's implicit recognition of Ethereum as a commodity when approving ETH futures in September. This further strengthens the case for spot Ether ETFs.

Notable institutions and asset management firms, including BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, and Hashdex, have applied for spot Ether ETFs, eagerly awaiting SEC approval.