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