Research Firm Boosts Ethereum Spot ETF Approval Probability To 90%: But Will It Be A 'Sell The News' Event?
Portfolio Pulse from Aniket Verma
10x Research has increased the probability of the SEC approving an Ethereum spot ETF to 90%. The approval is expected to be a 'sell the news' event, with Ethereum co-founder Jeffrey Wilcke transferring 10,000 ETH to Kraken. Grayscale Ethereum Trust has narrowed its discount to NAV to 8%, indicating high confidence in approval. VanEck's spot Ether ETF has been listed by DTCC, and BlackRock has amended its filings for a spot Ether ETF.
May 23, 2024 | 7:44 am
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POSITIVE IMPACT
BlackRock has amended its filings for a spot Ether ETF, indicating its preparation for potential approval.
BlackRock's amendment of its filings for a spot Ether ETF shows its readiness for potential approval, which could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Grayscale Ethereum Trust has narrowed its discount to NAV to 8%, indicating high confidence in the approval of an Ethereum spot ETF.
The narrowing of the discount to NAV suggests that investors are highly confident in the approval of the Ethereum spot ETF, which could lead to a positive short-term impact on ETHE's price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80