1. Big reversal: The possibility of Ethereum ETF approval increased to 75% and the price rose sharply

The SEC’s request for exchanges to expedite updates to 19b-4 applications suggests they may approve them before a key deadline this Thursday. But that doesn’t mean the ETF will be approved. Potential issuers also need their S-1 applications approved before the product can begin trading. Bloomberg Intelligence ETF analysts Eric Balchunas and James Seyffart raised the odds of a spot Ethereum ETF being approved from 25% to 75%, a probability tied to 19b-4 approval. Alex Thorn, head of research at Galaxy Digital, said that if speculation about the SEC’s 180-degree turn on Ethereum ETFs is true, they may try to find a balance between the fact that ETH itself is not a security, and that “staked ETH” (or, more far-fetchedly, staked ETH as a service) is a security.

2. Reuters: SEC requires exchanges to adjust Ethereum ETF applications and may be ready for approval

The U.S. securities regulator on Monday asked Nasdaq and CBOE to adjust their applications to list Ethereum exchange-traded funds (ETFs), three people familiar with the matter said, suggesting the agency may be ready to approve the applications. In a surprising move, SEC officials on Monday asked Nasdaq and CBOE to quickly update and change documents, which are usually required before approval.

Read the original article

3. Standard Chartered Bank executives expect Ethereum ETF to be approved this week, which may lead to inflows of $15 billion to $45 billion in the first 12 months

Geoff Kendrick, head of foreign exchange research and digital asset research at Standard Chartered, expects an Ethereum ETF to be approved this week, leading to inflows of $15 billion to $45 billion in the first 12 months. The bank's report on Tuesday reiterated that an ETF could push Ethereum to the $8,000 level by the end of 2024. Bitcoin will reach the $150,000 level by the end of 2024.

Read the original article

4. BTC briefly broke through 70,000, and the entire network was liquidated for 24 hours, with a total loss of US$365 million

BTC once broke through $70,000 and is currently at $70,590, a 24-hour increase of 5.32%. According to coinglass data, the entire network has been liquidated for $365 million in the past 24 hours, of which long orders were liquidated for $74,588,800 and short orders were liquidated for $290 million. BTC liquidated $99,785,900 and ETH liquidated $125 million. On May 20 (UTC), ETH rose by more than $590 in a single day, and its market value increased by more than $70 billion, setting the largest single-day increase in market value ever.

Read the original article

5. Vitalik: We need an open decentralized protocol to transfer assets between L2s

But before getting too hung up on any fancy toys, do the basics first. Our biggest UX issue is that the L2 world doesn't feel "like a unified Ethereum" enough. It's much better than it was a year ago, but still far from perfect. A simple algorithm: things that are easy to do on L1 are difficult across L2, such as token transfers, ENS, smart contract wallet key changes, and other functions. He also said that ens is our most successful non-financial application, and I don't know why more people don't care about it.

Read the original article