Federal regulators are swiftly changing their position on spot Ether ETF products and might greenlight them in a matter of days, according to experts.

On Monday, Ether (ETH) witnessed a 10% surge within minutes amid credible rumors suggesting the potential approval of its spot ETF in the United States.

ETH's price climbed from $3150 at 17:44 UTC to $3450 within just 25 minutes. This surge followed a tweet by Bloomberg ETF analyst Eric Balchunas at 17:20 UTC, indicating a significant increase in the likelihood of ETH ETF approval this month from 25% to 75%.

Balchunas noted that there is chatter suggesting a reversal by the SEC on this issue, which has become increasingly political. This unexpected development has caught many off guard, including himself, as the prevailing assumption was that the ETF would be denied.

Earlier in the month, the US House and Senate passed H.J.Res.109, a resolution aimed at overturning an anti-crypto banking rule previously established by the SEC. Despite President Joe Biden's pledge to veto the act if it reached him, the resolution garnered bipartisan support, underscoring a lack of consensus within the Democratic Party regarding its leadership's anti-crypto stance.

Seyffart confirmed that neither his nor Balchunas' accounts were compromised and that their change in odds was based on input from various sources. He also suggested that there could be several filings in the coming days if their predictions hold true.

Additionally, Fox Business reporter Eleanor Terret reported receiving information from a potential ETF issuer indicating that developments regarding their application are evolving rapidly.

The news also had a positive impact on Bitcoin, which surged 5% to $69,850 on Monday. According to Coinglass, the crypto market saw $226 million in liquidations within the past 24 hours.