Ethereum ETF Approval (May 2024)

The SEC approved spot Ethereum ETFs in May 2024, with products from BlackRock, Fidelity, and VanEck launching in July — a decision that lags #1 in flow volume but beats it in market breadth. 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, representing a 25% price gain versus the typical 10% reaction to regulatory news.