The likelihood of a spot Ethereum (ETH) Exchange-Traded Fund (ETF) getting the green light from regulators has dwindled to 36%. This sharp decrease in approval odds has tempered the enthusiasm within the cryptocurrency community.

It comes after the landmark approval of spot Bitcoin ETFs in January 2024, which initially sparked hope for similar advancements for Ethereum.

Ethereum Hits $4,000 Amidst Declining Chances of ETF Approval

Interestingly, Ethereum’s market performance has been notable, breaching the $4,000 mark on March 11. The increase in Ethereum’s value is tied to anticipation around its upcoming Dencun upgrade and the speculative approval of its spot ETF by the United States Securities and Exchange Commission (SEC).

However, this optimism now faces a reality check. Prediction platform Polymarket shows a 36% chance of an Ethereum ETF approval. It is worth noting that earlier on March 11, the chances dropped to 24%.

Read more: What Is the Ethereum Cancun-Deneb (Dencun) Upgrade?

Go to Source to See Full Article
Author: Harsh Notariya

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details