Ethereum ETF Approval (May 2024)

The SEC approved spot Ethereum ETFs in May 2024, with products from BlackRock, Fidelity, and VanEck launching in July. While flows were slower than Bitcoin ETFs due to the absence of staking yield, the approval legitimized Ethereum as an institutional-grade asset and pushed ETH above $4,000 for the first time since the 2021 bull market peak.