JPMorgan Forecast: "The SEC Will Ultimately Approve Ether ETFs"
According to BTC-ECHO, JPMorgan maintains optimism about the U.S. Securities and Exchange Commission (SEC) eventually approving Ether Spot ETF applications. Despite a previous estimation of a 50% approval chance in May, Nikolaos Panigirtzoglou, Managing Director at JPMorgan, suggests that litigation may ensue if approval isn't granted by then. The bank anticipates the SEC would likely lose this legal battle, leading to eventual approvals.
The SEC's recent action to solicit comments on proposed changes for Ether ETF applications by Bitwise, Grayscale, and Fidelity has ignited discussions among financial experts. BlackRock also applied for an Ethereum spot ETF recently. Bloomberg analyst Eric Balchunas expressed skepticism about an approval in May but didn't dismiss future approvals entirely.
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Ethereum on a Price Rally – Is a New All-Time High Coming?
wallstreet:online reports Ethereum is leading a price rally with significant gains, influenced by positive developments around Bitcoin. On-chain analysis shows large crypto investors are actively trading, pushing prices towards $4,000 once again.
Institutional interest in Ethereum has been rising since Grayscale Investments' SEC acknowledgment in November 2023 to convert their Ethereum Trust into an ETF. This was followed by BlackRock's similar request, driving the price of ETH to six-month highs.
Rumors About an Ethereum ETF Cause a Surge in ETH Price
Rumors of a potential early approval for Ethereum Spot ETFs have led to a surge of over 10 percent in the ETH price, as reported by Bitcoin2Go. Experts from Bloomberg remain cautious, assigning only a 25 percent chance of approval in May. Conversely, JPMorgan representatives hold a more optimistic view, suggesting that litigation could force approval later on, even if it's not immediate.
Ethereum Price Hits Monthly High - U.S. Inflation and Bitcoin Halving in Focus
Broker Test highlights that rising inflation rates and the anticipation of Bitcoin halving events are contributing to the increased demand and value surge in cryptocurrencies. Ethereum, in particular, has reached monthly peaks amidst speculative activities in investment communities worldwide.
