leading a rally in digital assets amid growing speculation that opposition is easing among regulators towards one or more exchange-traded funds that invest directly in the second-biggest cryptocurrency.The native token of the ethereum blockchain extended gains after Bloomberg Intelligence ETF analyst Eric Balchunas said he and his colleague James Seyffart had increased the estimated probability that a spot-ether ETF gets approved to 75% from 25%.
“Massive spikes in volume and demand for both spot and leveraged positions are apparent in the markets and the outperformance in ETH compared to BTC points to the potential ETH ETF catalyst as a primary driver.” After months of silence, the US Securities and Exchange Commission is poised to announce a decision on at least one application for an ETF that invests directly in ether by 23 May.Some fund companies expect a rejection because their private dialogue with the SEC hasn’t been as robust as it had been prior to the approval of spot-bitcoin ETFs in January, Bloomberg reported on Friday, citing two people familiar with the matter, who asked not to be named discussing private conversations.ETF.
“FalconX’s derivatives desk has seen the majority of our counterparties fade the move with the expectation that the SEC will move slower than the markets are anticipating,” said Ravi Doshi, head of markets at FalconX. —
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