According to ChainCatcher, based on historical experience, the fate of the Ethereum spot ETF may be determined by a vote by Gary Gensler, chairman of the U.S. SEC, this week. In January of this year, the approval of the Bitcoin spot ETF was the responsibility of a group of five commissioners. Two cryptocurrency industry-friendly commissioners, Hester Pierce and Mark Uyeda, voted to approve the ETF, while commissioners Caroline Crenshaw and Jaime Lizárraga voted against. Gensler also ultimately voted in favor, and many industry insiders believed that his vote ultimately ensured the approval of the spot Bitcoin ETF. The ETF was approved on January 10, 2024 with a 3 to 2 vote.
This week, the same five SEC commissioners will vote on May 23 to approve or disapprove VanEck’s Ethereum spot ETF.
