Ethereum ETFs' odds of approval improve as it appears Biden admin wants to seem more crypto friendly: Bloomberg ETF analyst
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If [spot ether ETFs] are denied that's a story that would just go on and on considering how much attention spot bitcoin exchange-traded funds have been garnering, said Balchunas
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Added political pressures surrounding crypto appeared to emerge last Thursday when a piece of pro-crypto legislation passed the U.S. Senate, winning the approval of some leading Democrats in that body.
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The Bloomberg analyst added that, similar to Biden potentially vetoing a bill overturning the SEC's move to establish certain accounting standards for firms that custody crypto, a denial of spot ethereum ETFs could possibly add fuel to the idea the current president's administration is anti-crypto.
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