The price of Ethereum (ETH) is experiencing a significant surge following a notable change in the assessment of two Bloomberg analysts regarding the potential approval of an Ethereum ETF by the U.S. Securities and Exchange Commission (SEC).
Eric Balchunas and James Seyffart have revised their outlook on the approval chances of a spot Ethereum ETF from 25% to 75%, citing a noticeable shift in the SEC’s stance.
“We are increasing our odds of spot Ether ETF approval to 75% (up from 25%). We have heard chatter suggesting that the SEC could be reversing their position on this politically charged issue. As a result, everyone is now scrambling, just like us, as everyone else had previously assumed that the ETF would be denied.”
Fox Business journalist Eleanor Terrett has also heard rumors of a potential reversal at the SEC.


The cryptocurrency industry has recently attracted significant political attention, with former President Trump claiming to be the best choice for crypto advocates. Additionally, Democrats have disregarded President Biden’s veto threat on SEC-related crypto legislation.
Today’s news has propelled the price of ETH from $3,143 a few hours ago to $3,676 at the time of publication.
The broader crypto market is currently experiencing a rally on Monday, with Bitcoin (BTC) rising from $66,800 at the beginning of the day to $71,248 at the time of writing.
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