No one saw it coming, but it looks like the SEC is going to approve several Ethereum ETFs in the near future. The Ethereum price is already strongly anticipating speculation.

It seemed hopeless, but now there are increasing signs that an Ethereum spot ETF may soon be allowed in the U.S. The reason for speculation is the registration of a ticker symbol for the Ethereum ETF by VanEck. The listing of the ticker symbol "ETHV" with the Depository Trust & Clearing Corporation could indicate that a license will soon be granted. A listing is considered a decisive step before final approval by the SEC. However, opposing voices say the ETF is currently on inactive status. Thus, approval is not yet 100% certain.

UPDATE: It's happening. We have at least 5 of the potential #Ethereum ETF issuers that have submitted their Amended 19b-4's in the last ~25 min.
Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, & Franklin all submitted via CBOE. pic.twitter.com/pHGt8iRWi8
— James Seyffart (@JSeyff) May 21, 2024

Whether there will be a green light cannot be predicted just by registering the trading symbol. An Ethereum Spot ETF was listed a month ago by Franklin Templeton. The deadline is today, May 23. The SEC must then make a decision on the VanEck ETF. If they approve it, they may also approve the other applications. The authority has received a total of five.

The fact that a decision may soon be made has led to strong gains for Ethereum. The price of Ether currently has a weekly gain of more than 25 percent.