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Urgent: Bloomberg Increases Chances of Accepting Ethereum Fund and Currency Rises 11%

attest Ether Price (ETH) A significant jump of more than 10% during U.S. trading hours on Monday, after two well-known Bloomberg analysts increased the odds that the U.S. Securities and Exchange Commission (SEC) will approve... Ethereum ETF Significantly.

Ethereum Spot Fund:

Bloomberg analysts James Siefwart and Eric Balkunas said the chances of approval for Ether ETFs increased from 25% to 75%. Both analysts pointed out that there were rumors that the Securities and Exchange Commission could radically change its position on this issue which has become extremely political.

tweeted Eric Balkunas, senior analyst at Bloomberg ETF

“James Siefwart and I are increasing the odds of Ether ETF approval to 75% (from 25%). We're hearing tonight that the SEC may take a new position on this topic, so everyone is scrambling now ( like all of us) assumed they would say no) ),.

Approval or rejection deadlines:

This week, the Securities and Exchange Commission faces a number of delays in making final decisions on exchange-traded funds after those decisions were repeatedly postponed.

Alongside the rise in the price of ether, we have witnessed Bitcoin (BTC) Gains too, as it rose over 5% and approached the $70,000 barrier. Grayscale Ethereum Trust (ETHE), a closed-end fund that Grayscale has proposed turning into an ETF, also saw a rise of more than 23% on Monday after trading at a discount of more than 20% to net asset value.

Read also: How to buy Ethereum?

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Mohamed CryptoPen

I have been working in international journalism and writing since 2014 and worked as a translator in 2017. I then started working in business journalism in 2019 with and other sites. I was promoted to editor-in-chief of the site in 2020. I write a lot about the evolution of the digital currency and crypto markets and I love the emergence and spread of the new culture across the world. I joined the BeInCrypto Arabic team in 2022 as Editor-in-Chief and I am still learning something new every day.




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