According to Odaily, Matrixport released a chart indicating significant progress in the Ethereum (ETH) Exchange Traded Fund (ETF) on May 20. The Securities and Exchange Commission (SEC) requested the exchange to amend its application. Three days later, on May 23, the SEC approved the 19b-4 file, but the ETF issuer's S-1 application was still not approved. Following this, ETH saw a 20% increase.
Due to the July 4 holiday and long weekend, the SEC may have postponed approval until July 8. Matrixport pointed out that since ETH has fully reflected the positive approval sentiment, if the SEC takes action this week, the ETH price may rebound. This information provides a significant insight into the potential future of ETH and its ETF, as the SEC's decisions can greatly impact the cryptocurrency's value.