In the early morning of May 24, with the 19B-4 forms of 8 spot Ethereum spot ETFs approved by the US SEC, it is only a matter of time before they are listed and traded. After the Ethereum spot ETF successfully "passed the test", the price of ETH fell after a brief rise. At the same time, the potential selling pressure of Grayscale, which owns millions of ETH, also caused market concerns.

It may be listed in June, and the scale of funds is limited due to the lack of a pledge mechanism

According to James Seyffart, an ETF analyst at Bloomberg, the S-1 approval of the Ethereum spot ETF may be completed in "a few weeks" or it may take longer. The process usually takes up to five months. According to the two-week round of comments on the S-1 amendment document (similar to the feedback provided by the SEC to applicants for spot Bitcoin ETFs), mid-June is definitely possible.

Cobo co-founder Shenyu also wrote that, referring to the Bitcoin ETF, the S-1 document approval of the Ethereum spot ETF will take at least two weeks, and the normal rhythm may take 3 months. It is expected to be passed in early June and start trading in the middle of the month.

The good news of the Ethereum spot ETF is also driving the market's bullish sentiment. According to Coinglass data, in the past 7 days, ETH spot net outflow was nearly 130 million US dollars, of which the net inflow of exchanges in the past 4 days was negative. At the same time, Greeks.live macro researcher Adam posted on the X platform today that 350,000 ETH options are about to expire, with a Put Call Ratio of 0.58, a maximum pain point of 3,200 US dollars, and a nominal value of 1.3 billion US dollars. Inspired by the progress of ETFs, ETH took over BTC's rise. The short-term option IV once reached 150%, which is much higher than the current BTC IV in the same period. Judging from the block trades and market trading structure, ETH's bullish sentiment is still strong.