We've seen that the probability of an ETH ETF being approved is actually super low now.

I mean, previously about a year ago, it was somewhere around 80%.

Now it's gone down to around 17%.

Maybe like it's been playing with 17 to 20%.

But I would say for the most part, I haven't changed my view.

I still think that the odds are in its favor.

You know, like for me, the only way it can actually be rejected is if easy,

as if the SEC actually firmly came out and called this a security.

It's Monday, March 25th, 2024. And this is Markets Daily, a show where we get into the minds

of some of the smartest and most experienced investors, traders, and analysts.

I'm Jen Sannasi.

Before we get into our discussion today, let's take a look at today's prices.

According to CoinDusk indices at 8 a.m. Eastern

time, Bitcoin was up just over 2% at $66,818. Ether was up about 1.5% at $3,435, and the CoinDusk 20

index was up 3% at 2,590 points.

For more on the market's action, let's bring in head of institutional research at Coinbase, David Duong.

David, welcome to the show.

Hey, Jen.

Thanks for having me.

Of course, it's always a pleasure having you here, especially as we start to see some green in the markets this morning.

Last week was kind of depressing if you're a markets watcher. Talk to us about what happened

and what you expect to happen from here. Overall, I think these pullbacks within uptrend cycle

...