Memecoins on Ethereum take flight on ETF news:

Memecoins in the Ethereum ecosystem are on the rise on the grounds that ETFs will be approved.

Following news that the US Securities and Exchange Commission (SEC) would approve spot Ethereum ETFs, some memecoins gained up to 30% in value.

In the last twenty-four hours, Pepe increased by 24.36%, LADYS increased by 21.54% and Dogecoin (DOGE) increased by 4.05%.

According to CoinGecko data, Ethereum itself gained 29.4% on a weekly basis, while it appreciated by 2.6% in the same period.

It is still unclear whether the SEC will approve Ethereum ETFs. The institution must make a decision on VanEck's application on May 23.

However, the issuers and exchanges updated the files they prepared for the spot Ethereum ETF, giving hope to the market.