10x Research Predicts Over 90% Likelihood For Ethereum Spot ETF Endorsement

A research organization focusing on digital asset analysis for wealth managers and cryptocurrency service providers 10x Research recently shared insights on social media platform X, revealing its findings which estimate a probability greater than 90% for the approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC). SEC As reported by 10x Research, the discount rate for the Grayscale Ethereum Trust (ETHE), known for managing the spot Bitcoin ETF (GBTC), has seen a significant decline from 30% down to 8% in a week. This current discount rate hints that there is at least a 90% chance of a successful Ethereum spot ETF approval.

If ETHE, which currently manages around $11 billion in assets, makes the move to an ETF format, we could witness considerable fund outflows as investors take advantage of potential profits. The firm stressed the pressing question: when can we expect these ETFs to start trading if they receive authorization?

10x Research pointed out that should SEC Chairman Gary Gensler share the 'cryptocurrency investment' cautious note today on X, it might serve as a potential indicator for the forthcoming approval of the ETH spot ETF. This deduction aligns with earlier instances when the SEC issued similar warnings before granting approval for ETFs associated with cryptocurrency futures.

The SEC is set to announce its decision by May 23 regarding the spot Ethereum ETF application from investment management firm VanEck, while the Ark Invest/21Shares application will be addressed a day later on May 24.

QCP Capital Warns of Potential Ethereum Price Volatility Ahead of SEC Decision

There’s a growing sense of anticipation surrounding the potential nod for a spot Ethereum ETF, especially with signs suggesting a shift in the SEC’s approach. This week, the commission requested exchanges to refresh their 19b-4 filings, hinting at potential advancements toward approval.

In response, various asset management firms, including Ark Invest and Grayscale, have been updating their S-1 registration forms to remove the staking element. This change addresses the SEC's concerns relating to the risks associated with staking cryptocurrencies.

Recently, the cryptocurrency trading firm QCP Capital issued a caution regarding possible Ethereum price fluctuations as the SEC's decision deadline approaches. The firm has previously projected that ETH prices could surpass BTC prices if the approval comes through, adding that the current lack of market enthusiasm could lead to a surprise approval of the spot Ethereum ETFs, possibly triggering a short squeeze and a swift return to previous market highs. Fidelity Securities and Exchange Commission

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