Ethereum Spot ETF Approval Enters Final Sprint Phase
As the final deadline of May 23 approaches, market expectations for the approval of the Ethereum Spot ETF continue to rise. Bloomberg ETF analysts have raised the approval probability from 25% to 75%, but there remains significant uncertainty. The SEC's determination of whether Ethereum qualifies as a security has become a key obstacle, and recent decisions on multiple applications have been postponed. The derivatives market indicates that traders are heavily buying ETH call options to place bets, with open interest reaching an all-time high. If approved, it is expected that $4-10 billion will flow in during the first year. However, one must be cautious of the "buy the rumor, sell the news" scenario, as some institutions may choose to take profits after the news breaks.