The deadline for the first Ethereum ETF approval is approaching, with VanEck's application decision set for May 23 by the SEC. Following closely is the Ark 21Shares spot ETH ETF application on May 24. The outcome on Wednesday will influence other issuers like Hashdex, Grayscale, and BlackRock. ETF Store President Nate Geraci highlighted the SEC's need to approve both exchange rule changes and registration statements for ETFs to launch. The SEC's delay tactics could involve further market evaluation without outright denials. The decision rests with five SEC Commissioners, including Gary Gensler, who previously supported Bitcoin ETFs. Analysts anticipate a rejection but believe Ethereum's bottom is already established. A surprise approval could lead to a price surge, with current prices around $3,100. Grayscale remains optimistic about SEC approval, while Ethereum futures traders show bullish sentiment. Read more AI-generated news on: https://app.chaingpt.org/news