Market Awaits SEC Decision on Ethereum ETF

The focus of the market is on the imminent decision by the U.S. Securities and Exchange Commission (SEC) regarding the application for an Ethereum spot ETF. Despite cautious expectations, this decision remains highly anticipated.

Coinbase analyst David Han has highlighted a key factor, the correlation between CME futures products and spot prices, which may influence the SEC's decision on the Ethereum ETF. Han estimates the likelihood of SEC approving an Ethereum spot ETF by the end of this month to be between 30% and 40%. This correlation provides confidence to the market and may encourage regulatory approval of new products.

Furthermore, if the Ethereum spot ETF is approved, it is expected to further drive the development of the cryptocurrency market. The SEC's decision will not only impact investor strategies but also have widespread implications for the entire cryptocurrency ecosystem. Therefore, investors and market participants will closely monitor the SEC's decision and adjust their investment strategies accordingly.

In response, analysts generally believe that although the approval likelihood of an Ethereum spot ETF is low, even a glimmer of hope is enough to trigger market fluctuations and investor actions.