According to a report by Coinbase Institutional Research Analyst David Han on May 15, one of the main factors influencing the SEC's approval of a spot Bitcoin ETF is the correlation between CME futures products and spot exchange rates. This factor may also affect the SEC's approval of a spot Ethereum ETF. Han estimates that the likelihood of the SEC approving a spot Ethereum ETF by the end of this month is between 30% and 40%.
The high correlation between CME futures products and spot prices provides signals of market stability and price discovery mechanisms, which may give regulators more confidence in approving new products.
Spot Bitcoin ETFs have already become a significant topic in the market, and the approval of a spot Ethereum ETF could further drive the development of the cryptocurrency market. The SEC's decision will not only influence the investment strategies of market participants but could also have a broad impact on the entire cryptocurrency ecosystem.
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