#Dencun升级会促进ETH及L2全面上涨吗？# After the dust settled on BitcoinSpot ETFs, the market turned its attention to EthereumSpot ETFs. After the approval of the BitcoinSpot ETF, the price of Ethereum soared, rising above $2,700 on January 13, hitting a new high since May 9, 2022, but then fell sharply.

As of now, the deadline for the decision of the three EthereumSpot ETFs that have filed applications is the end of May 2024, before which the U.S. SEC needs to make a final decision on whether to approve or not. They are VanEck Ethereum ETF, Ark 21Shares Ethereum ETF and Hashdex Ethereum ETF, with final deadlines of May 23, May 24 and May 30, respectively.

However, the market has different views on the outcome of the approval of EthereumSpot ETFs. Eric Balchunas, an analyst at Bloomberg ETFs, said there was an estimated 70% chance that ETHSpot ETF would be approved in May.

Volatility Shares co-founder Stuart Barton is also optimistic, saying that the fact that regulation allows futures-based ETFs to list is enough to show that they see Ethereum the same as Bitcoin, and it can be inferred that regulation may not consider Ether to be a security and will not regulate it as a non-registered security.

U.S. investment bank TD Cowen believes that the SEC will not approve EthereumSpot ETFs anytime soon, saying in its report that the SEC wants to gain experience from Bitcoin ETPs before approving Ethereum or other Crypto Assets ETPs. The wait for approval may not last as long as 26 months, but it will most likely not be until after the U.S. presidential election.

JPMorgan analyst Nikolaos Panigirtzoglou also said that if the SEC approves the SpotEthereum of ETFs in May, it will need to classify Ethereum as commodities rather than securities, similar to Bitcoin, but this is far from certain, so it believes that the probability that the SEC will classify Ethereum as commodities by May will not exceed 50%.