The prospects for Ether ETF approval took a nosedive to twenty-eight% in accordance with the polymarket prediction platforms by the tip of Could, marking a stark decline from the earlier 74% throughout BTC ETF approval. This week, the trail to a spot ether ETF approval encountered further hurdles as two Democratic U.S. senators urged SEC Chair to not greenlight future crypto merchandise, following the approval of spot bitcoin ETFs in January. Gary Gensler, the SEC Chair, seems to have a slim mandate for spot bitcoin ETFs, probably paving the way in which for future ETF purposes to face stiffer resistance. Including to the pessimism, Bloomberg Senior ETF Analyst Eric Balchunas additionally slashed his expectations for spot ether ETF approval to 30%, a big drop from the 70% forecasted again in January.
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