It doesn’t look too promising for spot Ethereum ETFs as the odds of receiving approval from the United States Securities and Exchange Commission (SEC) on or before May 31 have not improved based on market observer’s take.
Polymarket Spot Ethereum ETF Approval Odds Pegged at 45%
Data from the top prediction platform Polymarket shows that the odds for spot Ethereum ETF approval are currently at 45%.
This suggests that there has not been any progress since the last month on the proposed ETF offering. In March, several Polymarket gamblers placed their bets against Ethereum ETF approval by May 31. An obvious division among these gamblers also positioned the odds at 45% at the time.
Source: Polymarket
Before spot Bitcoin ETFs received a green light from the SEC, the enthusiasm for Ethereum ETF approval soared as high as 80%. However, the confidence in the possibility of having the SEC consider the offering has dwindled drastically. In the last few weeks, the intense effort of the SEC
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