A Historically Momentous Week, Increasing ETH Exposure

May 21, 2024 • 8 Min Read

Imminent 19b-4 Approval Seems Likely

Up until yesterday, we were quite bearish about the prospects of a spot ETH ETF approval. Our off-the-record conversations with those close to the situation confirmed this sentiment. ETF experts James Seyffart and Eric Balchunas, who accurately predicted the Bitcoin ETF call, also assigned a very low probability of approval. The market agreed as well, with the ETHE discount widening from 8% to over 20% in the past couple of months, indicating a lack of conviction over ETH ETF approval.

Thus, we are inclined to think that this is indeed a late dev...

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