Spot Ethereum ETF Approval Optimism Rises - Is a New Bull Market Coming?

As rumors spread, market optimism about the approval of spot Ethereum (ETH) ETFs continues to heat up. It is rumored that the U.S. Securities and Exchange Commission (SEC) has recently announced a change of position and approved spot ETH ETFs. According to CoinDesk, the SEC's Trading Commission and Market Division suddenly asked exchanges to update their documents for listing and trading ETH ETFs. The move suggests that the regulator will approve the application by Thursday, when it will make a decision on fund manager VanEck's Ethereum ETF. On May 21, Bloomberg's ETF analysts raised the approval benchmark from 25% to 75%. On the same day, Polymarket's contract also set the approval at more than 61%, and further reached 69%. The report pointed out that five issuers that have handled spot ETH ETFs have submitted revised documents. These companies include Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares and Franklin, who submitted revised 19b-4s forms to the SEC on Tuesday. It is worth noting that Fidelity deleted all content related to staking and staking rewards in its revised documents. Eric Balchunas, an ETF expert at Bloomberg Industry Research, said that this revision indicates that if the spot ETH ETF is approved, the SEC will not allow assets to be pledged within the spot ETH ETF.

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