Ether ETF Frenzy: Memecoins Explode, Investors Eye SEC Decision

• Fate of spot Ether ETFs uncertain as deadline nears, VanEck’s proposal leads.
• Memecoins Pepe and Floki Inu prices surge amid speculation of regulatory approval for Ether ETFs
• SEC actions hint at potential green light for Ether ETFs, impacting broader crypto market

As the May 23 deadline for the first proposed spot Ether ETF approaches, the fate of such financial products hangs in the balance. Notably, VanEck’s proposal leads the pack, and despite the uncertainty, recent actions by issuers suggest they are preparing for a potential green light from regulators.

Notably, Ethereum-based memecoins have experienced a substantial price surge alongside ETH tokens amid growing speculation that regulators may be softening their stance on spot ETH ETFs.

Reports that the SEC has asked at least three U.S. firms to revise their applications for listing spot Ether ETFs have further fueled the bullish interest in these memecoins.

Pepe (PEPE) led the rally, rising 29% in the past 24 hours, as per the data from CoinMarketCap, while LADYS surged approximately 25%. On the other hand, Shiba Inu (SHIB) saw a small gain of 3%, while Ether (ETH) itself increased by around 4%, reaching $3,792.

Additionally, Dogecoin (DOGE) also ticked up about 4.5%, while Floki Inu (FLOKI) prices shot up by 14%. Moreover, Ethereum rollup network Mantle (MNT) saw a price surge of 6%.

The market’s positive reaction underscores the high stakes and potential impact of spot Ether ETF approvals. Investors are closely watching the SEC’s decisions, as approval could significantly boost the broader cryptocurrency market by legitimizing and expanding access to Ethereum-based investments.