<i>In the wake of the recent approval of 11 spot Bitcoin ETFs on January 10, 2024, the crypto community is eagerly eyeing the potential approval of Ethereum's spot ETFs. The new deadline for VanEck's decision on its spot ETH ETF, set for May 23rd, has intensified speculations.</i>
<h2>Anticipating Ethereum's Moment</h2>
Analysts are optimistic about Ethereum's prospects, with Bloomberg ETF analyst Eric Balchunas estimating a 70% likelihood of approval by May. The recent approval of Bitcoin ETFs has set a positive precedent, signaling potential opportunities and innovations in the crypto market.

Eric Balchunas, who was cautious about spot Bitcoin ETFs, now holds a positive outlook for Ethereum. He believes that Ethereum's fate is closely tied to Bitcoin but sees a favorable trajectory. Digital asset lawyer Joe Carlasare also envisions Ethereum spot ETFs gaining approval this year, potentially with a timeline extending beyond initial expectations.

[embed]https://twitter.com/WClementeIII/status/1745202909271167079[/embed]
<h2>Deadline Sparks Industry Interest</h2>
The industry is on edge as multiple <a href="https://www.cryptoknowmics.com/news/sec-greenlights-bitcoin-etfs-paving-the-way-for-mainstream-adoption/">Ethereum spot ETF</a> applications, including those from VanEck, Ark 21Shares, and Hashdex, await SEC decisions by the end of May. The final deadline for VanEck's spot Ethereum ETF decision on May 23, 2024, has added to the anticipation.

While Carlasare suggests that Ethereum spot ETFs may not trade until Q3 2024, Hashdex remains optimistic about an earlier timeline, proposing potential trading starting in Q2.
<h2>Market Response and SEC Decision Deadlines</h2>
Following the ETF approvals, Ethereum experienced a 3% price surge, surpassing $2500 for the first time since May 2022. Various financial institutions, including ARK 21Shares, BlackRock, Fidelity, Grayscale, Hashdex, Invesco Galaxy, and VanEck, have submitted applications for Ethereum spot ETFs. The SEC has specific deadlines for decisions on these applications:
<ul>
 	<li aria-level="1">VanEck: May 23</li>
 	<li aria-level="1">ARK 21Shares: May 24</li>
 	<li aria-level="1">Hashdex: May 30</li>
 	<li aria-level="1">Grayscale: June 18</li>
 	<li aria-level="1">Invesco: July 5</li>
 	<li aria-level="1">Fidelity: August 3</li>
 	<li aria-level="1">BlackRock: August 7</li>
</ul>
The approval of spot Bitcoin ETFs has injected optimism into the market, setting the stage for potential Ethereum spot ETF approvals. Analysts foresee positive outcomes, with May holding the promise of a significant milestone for Ethereum.

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Ethereum Spot ETF Approval: New Deadline Sparks Anticipation

Following the approval of 11 spot Bitcoin ETFs, the cryptocurrency market eagerly awaits potential approval for Ethereum spot ETFs.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Ethereum Spot ETF Approval: New Deadline Sparks Anticipation

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