ETH ETF looking more likely to find approval

The upcoming approval of Ethereum ETF filings is looking more likely today as senior ETF analyst at Bloomberg Eric Balchunas raises odds of approval from 25% to 75% on the news that the SEC has requested exchanges update their 19B-4 filings on an accelerated basis. Nate Geraci, co-founder of the ETF institute believes there is no legal basis for disapproval available to the SEC, and thus remains optimistic that odds of approval are high

Despite being the most fundamentally sound ecosystem bar none, including existing as the only net profitable settlement layer in the industry, and on the cusp of a spot ETF approval providing regulatory clarity in the US, Ethereum remains the most hated ecosystem on the market with broad-based negative sentiment from retail participants, revealing that large portions of the market are off-side on these fundamentals.

Arbitrum, the primary L2 scaling Ethereum is also profitable, with annualised earnings after costs of approximately $7m. For contrast, the Solana blockchain, valued by the market at 27 times that of Arbitrum, loses approximately $10m every day, amounting to 3.6 billion dollars in losses annually. Arbitrum provides access to Ethereum-level security with some of the cheapest, fastest and most reliable execution in the industry, accessible directly from all major centralised exchanges, and appears to be leading global DeFi innovation and adoption.

Arbitrum metrics continue to quietly go parabolic despite a dearth of media coverage and negative broad-based public sentiment toward the Ethereum ecosystem