The Block Crypto News8 minutes ago

Published on May 21, 2024 13:52 GMT+00:00edited on May 21, 2024 13:54 GMT+00:00

In a turnaround of broad market consensus, Bloomberg exchange-traded fund analysts Eric Balchunas and James Seyffart dramatically raised their odds of spot Ethereum ETF approvals in the United States from 25% to 75% yesterday. The sudden change came amid signs of a 180 from the U.S. Securities and Exchange Commission, Balchunas said — with crypto increasingly becoming a political issue.

The SEC has only asked for minor updates to the important 19b-4 forms for prospective spot Ethereum ETFs, a source told The Block today. Balchunas said he heard that the 19b-4 forms were to be returned to the SEC by 10 a.m. ET this morning — adding that approval for these forms might happen as early as tomorrow.

The SEC has key deadlines on Thursday and Friday to decide whether to approve the …