$ETH Latest news: SEC approves application for Spot Ethereum ETF

In a landmark decision on May 23, the US Securities and Exchange Commission approved several applications for spot Ethereum ETFs.

On May 21, Ethereum experienced a significant price surge of 18% amid new rumors that applications for an Ether spot ETF could receive regulatory approval by the May 23 deadline.

The launch of the Ethereum spot ETF is expected to increase investor demand and liquidity in the Ether market. This opens the door for both retail and institutional investors to gain access to Ethereum price performance through a regulated exchange product.