Loading...
Market
What will be the impact of SEC's Ethereum ETF decision on the pace of other cryptocurrency ETF approvals by the end of 2024?
5
Resolution / Starting Odds
Accelerates approval of other crypto ETFs • 33%
No significant change in pace of crypto ETF approvals • 33%
Slows down other crypto ETF approvals • 33%
SEC announcements and crypto market analysis
Story
SEC to Decide on First Spot Ethereum ETF Approval by May 23rd, ETH Trading at $3,400
May 20, 2024, 07:49 PM
The U.S. Securities and Exchange Commission (SEC) is expected to make a decision on the approval of the first spot Ethereum (ETH) Exchange Traded Fund (ETF) by May 23, 2024, with another deadline on May 24th. Coinbase estimates a 30-40% chance of approval, while market predictions on Polymarket place the odds at around 16%, with some analysts increasing the odds to 75%. The final decision will affect applications from VanEck and ARK Invest/21Shares. Analysts predict significant volatility in Ethereum prices leading up to the decision, with potential price movements of +/-4.8%. If approved, the ETF could lead to a substantial increase in Ethereum's price, with estimates suggesting ETH could reach $4,000 or higher. The approval is seen as a pivotal moment for the crypto market, potentially signaling a shift in U.S. crypto policy, influenced by political pressure from the Biden administration, and opening the door for other crypto ETFs. Currently, ETH is trading at $3,400.
View original story
Similar markets
Bitcoin ETF approved • 20%
Solana ETF approved • 20%
Cardano ETF approved • 20%
No other ETFs approved • 20%
Multiple other ETFs approved • 20%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Boosts approval of other altcoin ETFs • 33%
No impact on other altcoin ETF approvals • 33%
Slows down approval of other altcoin ETFs • 34%
