American regulators at the SEC have decided what to do next. Companies whose spot ether ETF applications were approved are required to complete Form S-1, which is mandatory for all publicly traded companies, by May 31, according to the agency. It is already being done by some organizations. On the same day that it authorized the spot ETFs, VanEck submitted Form S-1; BlackRock did not do so until May 30.



However, not every business was given the go-ahead. The Brazilian Hashdex was one of the unfortunate ones; they applied in November 2023. For the time being, the firm has chosen not to introduce a spot Ether ETF in response to the disapproval of the SEC.



The accumulation of ether by major players has increased once again. Notable cryptocurrency trader Ali Martinez saw the pattern. One seasoned investor in X (previously Twitter) reported that there are now more than 1,000 addresses with 10,000 ETH (more than $37 million) in their accounts. If the value of the second-largest cryptocurrency by market cap doesn't rise, then big money has no reason to hold onto it.

$ETH