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While Ethereum investors and the entire cryptocurrency market are waiting for the SEC's spot Ethereum ETF decision, people are wondering about the time when the decision will be announced.
While there is no clear information at this point, Bloomberg ETF analyst Eric Balchunas made an hour prediction, stating that he believes the SEC will approve ETH ETFs.
At this point, Balchunas, who made a prediction according to the SEC's spot Bitcoin ETF announcement time, estimates that ETH ETFs will be approved at 16.00 New Jersey time (UTC 08.00).
Accordingly, the ETH ETF decision is expected to be announced at 23:00 GMT.
Balchunas reminded that the SEC announced its spot BTC decision at 22:45 Turkey time and predicted that the decision regarding the spot Ethereum ETF could be announced at 23:00.
Bloomberg analyst James Seyffart also stated that I agree with Balchunas' prediction and said, “There is no set time for the SEC to announce its Ethereum ETF decision, but the expectation is that it will be around the market closing. It may come late in the morning, but it does not seem likely to me. This decision will be made before 6 pm tomorrow evening.” “I can almost guarantee it will come.” said.
As it is known, the SEC contacted the stock exchange and ETF issuers earlier this week, and Bloomberg ETF analysts increased the probability of ETH ETF approval to 75%. After this situation, ETH experienced a great increase.
The SEC will announce its decision on VanEck's spot Ethereum ETF application today.
My best guess is we hear from the SEC around 4pm tomorrow. For spot btc they dropped it at 3:45pm, some others in past were slightly after 4pm. Anything poss tho https://t.co/MzTOcsmTnJ
— Eric Balchunas (@EricBalchunas) May 22, 2024
*This is not investment advice.