May 24 Digital Currency Dynamics Summary
1. SEC approves key documents for spot Ethereum ETF, and it may take several weeks for the official listing.
2. The approval of the spot Ethereum ETF is decided by the voting of the US SEC's Trading and Markets Division, not the SEC Chairman and other four members. 3. Galaxy Digital: It is expected that the Ethereum spot ETF will be listed on the exchange in July or August.
4. Biden's deadline for making a final decision on the resolution to repeal SAB 121 has been extended to June 3.
5. Analysis: The US SEC's ETF decision means that ETH and "many" other tokens are not securities.
6. Consensys: The approval of the Ethereum spot ETF shows that the US SEC believes that Ethereum is a commodity.
7. HashKey analyst: Ethereum spot ETF is expected to join the pledge mechanism, and the market size is expected to reach 75% of the Bitcoin spot ETF.
8. Bitcoin mining difficulty increased by 1.48% to 84.38 T. 9. US Bitcoin spot ETF already holds over 850,000 Bitcoins 10. US House of Representatives votes to ban the Fed from issuing CBDC
11. US SEC Chairman: SEC has legal tools for cryptocurrencies, but needs more resources.
12. Fed survey: An estimated 18 million Americans used or owned cryptocurrencies last year.