24/7 Cryptocurrency News

Spot Ethereum ETF May See Green Light in May, Boosts ETH Price

Ethereum's price soars amid high hopes for an SEC-approved ETF, potentially setting a precedent for other cryptos like Solana.
Spot Ethereum ETF May See Green Light in May, Boosts ETH Price

The crypto market is witnessing a surge in optimism as Ethereum’s price experiences a significant boost. This rise in value is primarily linked to the anticipated approval of a spot Ethereum Exchange-Traded Fund (ETF) by the U.S. Securities and Exchange Commission (SEC). 

Bloomberg Intelligence analyst Eric Balchunas estimates a 70% chance of approval by May. Consequently, Ether’s value has soared by 9% in the last 24 hours, reaching $2,625 and showing an 18% increase over the past week.

ETH/USD 24-hour price chart (source: CoinMarketCap)

Advertisement

SEC Decision on Ethereum ETF

The market’s reaction mirrors investor confidence in the potential of an Ethereum ETF. This enthusiasm follows the SEC’s recent approval of eleven Bitcoin ETFs. Joe Caselin from BIT crypto exchange observes a pattern of “buy the rumor, ignore the news, buy the next rumor” in the market. 

Notably, BlackRock, set to launch its Bitcoin ETF, has a strong history with the SEC, boasting 575 approvals. The final decision on the Ethereum ETF, filed by Ark and 21Shares, is due by May 23. However, the SEC chair Gary Gensler’s view of cryptocurrencies, barring Bitcoin, as securities adds a layer of uncertainty to the process.

Advertisement

Potential Ripple Effects: Beyond Ethereum

The approval of an Ethereum ETF could pave the way for other cryptocurrencies like Solana to gain similar investment vehicles. Rachael Lucas, a technical analyst at BTC Markets, points out Solana’s impressive 920% growth in 2023, far outpacing Bitcoin’s 155% in the same period. 

This growth has not gone unnoticed by investors. Moreover, Caselin also suggests that an Ethereum ETF approval might lead to a broader range of ETFs covering top market cap tokens, akin to an S&P 500 model for cryptocurrencies.

Read Also: Sam Altman’s Worldcoin Records 500,000 World ID Verifications In Argentina

Share
Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor’s Strategy Fails To Make S&P 500 Listing, MSTR Stock Drops

Strategy, led by Executive Chairman Michael Saylor, has been left out of the latest S&P…

September 6, 2025
  • 24/7 Cryptocurrency News

Solana Treasury Company SOL Strategies Gets Approval To List On Nasdaq

SOL Strategies Inc. has received approval to be listed on the Nasdaq Global Select Market.…

September 6, 2025
  • 24/7 Cryptocurrency News

Fidelity, Grayscale, VanEck Dump Ethereum Amid ETH Price Crash

Ethereum (ETH) price fell sharply as Fidelity, Grayscale, and VanEck drove heavy ETF outflows, but…

September 6, 2025
  • 24/7 Cryptocurrency News

Ethereum Treasury Firm SharpLink Confirms Compliance Amid Nasdaq Oversight

SharpLink has reaffirmed its full compliance with Nasdaq rules, dismissing speculation about shareholder approval requirements.…

September 5, 2025
  • 24/7 Cryptocurrency News

Trump Media Acquires 684M CRO for Cronos Treasury, Strikes Deal with Crypto.com

A deal with Crypto.com has led to the establishment of a Cronos Treasury by the…

September 5, 2025