[10x Research: Ethereum price will pull back soon after spot Ethereum ETF is listed for trading] Golden Finance reported that 10x Research said that the Ethereum ETF application process made progress when the US Securities and Exchange Commission asked exchanges to update their 19b-4 application materials on May 20. This dynamic changed the probability of approval from 25% to 75%. By May 23, the US SEC approved the exchange's application for a spot Ethereum ETF, clearing the main obstacle to approval. Over the next seven days, Ethereum open interest immediately increased by 500,000, which drove Ethereum futures open interest from $8.8 billion to $13 billion, and Ethereum prices jumped from $3,065 to $3,959 when it reached its high; Since then, we have received more clarification from the US Securities and Exchange Commission that the agency has approved the ETH ETF and will begin trading today. As with all previous cases, from the listing of Bitcoin futures in December 2017, to the listing of Coinbase in April 2021, the listing of futures-based Bitcoin ETFs in October 2021, and the listing of spot-based Bitcoin ETFs in January 2024, all listings caused pullbacks shortly after.